The United Nations Security Council on Wednesday unanimously imposed its toughest sanctions yet on North Korea, placing a cap on its key coal exports, AFP reports.
The new sanctions resolution -- which was spearheaded by the United States and came after three months of tough negotiations with fellow veto-wielding council member China -- passed by a 15-0 vote, according to the news agency.
The resolution demands that North Korea "abandon all nuclear weapons and existing nuclear programs" and takes aim at the state's exports of coal, its top external revenue source.
Under Resolution 2321, North Korea will be restricted from exporting more than 7.5 million tons of coal in 2017, a reduction of 62 percent from 2015.
The sanctions are a response to North Korea’s constant nuclear tests which are in violation of previous UN resolutions. The last such test occurred on September 9.
Samantha Power, the U.S. ambassador to the United Nations, said the new resolution would strip the regime of more than $700 million in hard currency, dramatically reducing the money it can spend on nuclear and ballistic weapons.
Speaking to reporters with her counterparts from South Korea and Japan, she said the move marked "the strongest sanctions regime the Security Council has imposed on any country in more than a generation."
"So long as the DPRK makes the choice it has made, which is to pursue the path of violations instead of the path of dialogue, we will continue to work to increase the pressure and defend ourselves and allies from this threat," Power said, referring to the North by its official name, the Democratic People's Republic of Korea.
UN Secretary-General Ban Ki-moon urged all countries to enforce the resolution.
"It sends an unequivocal message that the DPRK must cease further provocative actions and comply fully with its international obligations," said Ban, according to AFP.
Ban said he was still committed to "sincere dialogue" to resolve the nuclear issue and stood by calls to provide humanitarian assistance to ease the suffering of ordinary North Koreans.
China, North Korea's primary ally and one of the few markets for its coal, reiterated that Beijing "strongly opposes" the North Korean nuclear tests, but the Chinese ambassador, Liu Jieyi, also made a veiled criticism of joint exercises between the United States and South Korea.
"Certain parties increase their military presence and scale up military exercises, thus intensifying the confrontation," he said at the Council.
"This situation must be changed as soon as possible," he added.
The UN Security Council resolution condemns "in the strongest terms" North Korea's nuclear test on September 9.
Pyongyang claimed at the time that it had made major strides in its efforts to fit a miniaturized warhead on a missile that could reach the United States.
North Korea, which insists its nuclear weapons are a deterrent to U.S. "aggression," brushed aside earlier sanctions that targeted its weapons exports, access to financial markets and imports of luxury goods.
In addition to coal, the Security Council on Wednesday banned North Korea from exporting certain metals, including copper, silver, zinc and nickel, that bring in an estimated $100 million a year, according to AFP.
The Security Council also added 10 companies and 11 individuals --including the former North Korean ambassadors to Egypt and Myanmar -- to a blacklist under which their travel is restricted and assets frozen due to their alleged role in Pyongyang's military programs.