Citing a US official familiar with negotiations, CNN reported that the resolution is designed to accomplish six major goals: cap North Korea's oil imports, ban textile exports, end additional overseas laborer contracts, suppress smuggling efforts, stop joint ventures with other nations and sanction designated North Korean government entities.
On Monday, the US circulated a draft resolution that called for a full ban on exports of oil to North Korea and an asset freeze on leader Kim Jong Un, the Worker's Party and the government of North Korea.
But later in the day, the US put forward another draft that removed the full oil embargo, asset freeze, travel ban for Kim and softened the language on foreign workers and other issues.
Although the resolution won unanimous backing from all 15 council members, the weakened penalties reflected the power of Russia and China, which had objected to the original language and could have used their votes to veto the measure, reported New York Times.
North Korea's Foreign Ministry said in a statement published on state media that if the US "does rig up the illegal and unlawful 'resolution,'" it would respond in kind.
"The forthcoming measures to be taken by the DPRK will cause the US the greatest pain and suffering it had ever gone through in its entire history."
The International community condemned North Korea for testing the hydrogen bomb on August 27, marking the sixth time the isolated state has tested a nuclear weapon.
The major powers then convened an emergency session of the security council where U.S. Ambassador to the United Nations Nikki Haley argued forcefully for harsher sanctions, saying, "enough is enough," and that Kim was "begging for war."
"We have taken an incremental approach, and despite the best of intentions, it has not worked," Haley said. "War is never something the Unites States wants -- we don't want it now. But our country's patience is not unlimited. We will defend our allies and our territory."
Moreover, South Korea Prime Minister Lee Nak-yon said that North Korean leader is likely to launch another intercontinental ballistic missile (ICBM) "on September 9." (ANI)