United Nations (CNN) The United Nations Security Council on Saturday passed a resolution imposing new sanctions on North Korea for its continued intercontinental ballistic missile (ICBM) testing and violations of UN resolutions. 
 
 With 15 votes in favor, Resolution 2371 was passed unanimously. 
 
 The resolution targets North Korea's primary exports, including coal, iron, iron ore, lead, lead ore and seafood. The sanctions also target other revenue streams, such as banks and joint ventures with foreign companies. 
 
 The sanctions will slash North Korea's annual export revenue of $3 billion by more than a third, according to a statement from the office of Nikki Haley, the US ambassador to the United Nations. 
 
 The resolution represents "the strongest sanctions ever imposed in response to a ballistic missile test," the statement said. 
 
 North Korea's state-run newspaper Rodong Sinmun carried an article Sunday warning that the United States' only option will be self-destruction unless it gives up its "hostile policy" against Pyongyang. 
 
 "The US mainland will sink into an unimaginable sea of fire on the day when it dares to touch our country by stupidly causing mischief and brandishing its nuclear and sanctions clubs," the commentary -- under the byline Ri Hyo Jin -- warned. 
 
 'Up to North Korea' 
 
 President Trump, vacationing in New Jersey, tweeted his approval of the Security Council's resolution: "The United Nations Security Council just voted 15-0 to sanction North Korea. China and Russia voted with us. Very big financial impact!" 
 
 Trump has been critical of UN performance in the past but was glad to see China and Russia join with the United States to condemn and crack down on the moneymaking ventures that fuel North Korea's outlawed missile expansion program. 
 
 As for what's next, Haley said, it's "completely up to North Korea." 
 
 Two recent ICBM launches by North Korea prompted a call for action by many UN members, and Haley said the resolution includes "one of the strongest sanctions that's have been passed in a generation." 
 
 The Security Council measured the impact in a big round number: $1 billion in key exports from North Korea to be banned under new international law. From seafood to coal, the resolution demands a shutoff of some of the ways that the reclusive regime makes valuable hard currency to fuel its rising ballistic missile and nuclear industry. 
 
 UNSC just increased the penalty of NKorea ballistic missile activity to a whole new level. Learn more about res 2371:https://t.co/nnZm71O6cw pic.twitter.com/p0hldFpdDt — US Mission to the UN (@USUN) August 5, 2017 
 
 France's UN ambassador, Francois Delattre, said North Korea poses a "4G" threat to the world -- 4G meaning "global, grave, given and growing." 
 
 British Ambassador Matthew Rycroft said North Korea, by its ICBM launches, is showing contempt and disregard for the Security Council. "We must meet this belligerence with unequivocal condemnation and with clear, unequivocal consequences," he said. 
 
 The resolution also bans countries from hiring additional North Korean workers, a move designed to shut off another source of hard currency for the Pyongyang regime. A Security Council diplomat said the workers are kept in deplorable conditions in many countries. Haley termed it "modern slavery." 
 
 The resolution also placed nine people and four business entities -- including a major North Korean bank -- on a UN blacklist, slapping all with asset freezes or travel bans. 
 
 Adding tougher sanctions was not possible, with China opposing more severe restrictions that might have been urged by Washington. North Korea is still allowed to receive oil. 
 
 Differences between China and US 
 
 China and a few other countries would like to see dialogue between North Korea and the United States. 
 
 "We are happy to talk with them, but they have to stop this reckless action in order for us to do that," Haley said. 
 
 The resolution, like many before, was worked out over several weeks of negotiations between the United States and China. Ambassador Haley thanked China at the Security Council table for its cooperation. 
 
 However large differences remain between the US and China, North Korea's main ally. 
 
 Chinese Ambassador Liu Jieyi did condemn the ICBM launches but warned against the deployment of the Terminal High Altitude Area Defense (THAAD) anti-missile system in South Korea by the United States. Jieyi said the missile deployment will not bring a solution to the nuclear and missile testing by North Korea. 
 
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 Haley said the US "is taking and will continue to take prudent defensive measures to protect ourselves and our allies" from the threat posed by North Korea. 
 
 Jieyi of China countered that "China strongly urges parties concerned to halt the process of this deployment and dismantle relevant equipment." 
 
 Russia called the THAAD system an irritant that threatens the regions security. 
 
 US Secretary of State Rex Tillerson recently said the United States does not want regime change in North Korea. Russia's new UN ambassador, Vasily Alekseevich Nebenzya, said Russia hopes Tillerson is sincere. 
 
 The US secretary of state is currently meeting with Asian regional ministers attending the Association of Southeastern Asian Nations (ASEAN) Regional Forum in the Philippines, with North Korea a leading topic. 
 
 Tillerson will hold a trilateral meeting Monday in Manila with his South Korean counterpart Kang Kyung-wha and Japanese counterpart Taro Kono to discuss North Korea, according to South Korea's foreign ministry 
 
 "The three foreign ministers will share their assessments of situations caused by the series of provocations by North Korea and discuss necessary future countermeasures, " the ministry said in a statement. 
 
 China on its role 
 
 Chinese Foreign Minister Wang Yi told reporters covering the forum Sunday that while sanctions against North Korea are necessary, "sanctions are by no means the ultimate goal. 
 
 "The goal is to bring the Korean peninsula nuclear issue back to the negotiation table and to seek a final solution through negotiation, until the denuclearization of the Korean peninsula and the long-term peace and stability of the Korean peninsula become reality." 
 
 Wang said talking about the issue at the ASEAN forum would increase understanding. 
 
 "What's important is that the DPRK foreign minister has come (to this event) too, he can listen to views from all parties, he also has the right to express his own views, this kind of mutual communications can only be beneficial, it will bring no harm," Wang said. 
 
 He said China was the nation that had been executing the UN resolutions: 
 
 "Who is executing each resolution regarding North Korea by the UNSC? It is in fact China who is executing them. Who is taking on the relevant costs? It is China who is taking on those costs. China fully, comprehensively and strictly executed each and every resolution by the UNSC, and fulfilled the responsibility expected from a responsible country. This is for all to see." 
 
 North Korea 'determined to remain nuclear' 
 
 Experts on North Korea debated the impact of the sanctions. 
 
 Seung-Kyun Ko, a professor at Hawaii Pacific University and a former research commissioner in South Korea's Ministry of Foreign Affairs, told CNN last week that the Kim regime will not respond to punitive measures. 
 
 "If there are no negotiations, the current tensions will continue. North Korea will endeavor to improve its nuclear and missile capability," Ko said. 
 
 "North Korea is an absolute dictatorial regime ... It has sacrificed so much and so many. It is willing to sacrifice more," Ko said. 
 
 John Delury of Yonsei University said the US and Security Council measures appeared to be aimed at North Korea's economy as a whole and it was unlikely the UN resolution would force Pyongyang to abandon its nuclear program. 
 
 "When the economy overall hurts they don't cut the military first, they cut it last. They are very used to suffering economically and the regime is very good at it," Delury said. 
 
 Andrei Lankov, a North Korea expert from Kookmin University in Seoul, had a similar take when talking about sanctions the US imposed unilaterally last week. 
 
 "If we are talking about denuclearization, let's be frank -- nothing is going to work. (The) North Korean government is determined to remain nuclear, and it will remain nuclear. Period. If it means massive economic disaster, they will not care," he told CNN. 
 
 Damage to regime? 
 
 But Cheong Seong-jang, from the South Korea-based Sejong Institute, told CNN the UN resolution could be effective against Kim's regime. 
 
 North Korea's mineral and marine exports were known to be controlled by the Worker's Party of Korea and military authorities "hence this is expected to cause significant damage to the foreign currency income for North Korean elites and could cause big damage to Kim Jong Un's leadership," he said. 
 
 Cheong praised Beijing for signing up to the resolution, which he said could cause economic damage to China's northeastern regions where North Korea's marine and mineral exports were important. 
 
 "However, this resolution does not include measures to halt providing crude oil to North Korea, hence, there are questions on whether this measure could stop North Korea from conducting additional ICBM or nuclear tests," he said. 
 
 "If North Korea does not announce a halt in further nuclear and ICBM tests and does not come out to the negotiation table in the next month, (China) should halt any tourism and trade exchanges, stop providing crude oil, repatriate all North Korean workers to the North and stop all its import activities from the North. Kim Jong Un, for survival of its system, will be forced to send a special envoy to China to make a deal." ||||| UNITED NATIONS (Reuters) - The United Nations Security Council unanimously imposed new sanctions on North Korea on Saturday that could slash by a third the Asian state’s $3 billion annual export revenue over its two intercontinental ballistic missile tests in July. 
 
 The U.S.-drafted resolution bans North Korean exports of coal, iron, iron ore, lead, lead ore and seafood. It also prohibits countries from increasing the current numbers of North Korean laborers working abroad, bans new joint ventures with North Korea and any new investment in current joint ventures. 
 
 “We should not fool ourselves into thinking we have solved the problem. Not even close. The North Korean threat has not left us, it is rapidly growing more dangerous,” U.S. Ambassador to the United Nations Nikki Haley told the council. 
 
 “Further action is required. The United States is taking and will continue to take prudent defensive measures to protect ourselves and our allies,” she said. Washington would continue annual joint military exercises with South Korea, Haley said. 
 
 North Korea has accused the United States and South Korea of escalating tensions by conducting military drills. 
 
 China and Russia slammed U.S. deployment of the THAAD anti-missile defense system in South Korea. China’s U.N. Ambassador Liu Jieyi called for a halt to the deployment and for any equipment in place to be dismantled. 
 
 Liu also urged North Korea to “cease taking actions that might further escalate tensions.” 
 
 U.S. President Donald Trump hailed the vote in a Twitter message on Saturday evening. 
 
 “The United Nations Security Council just voted 15-0 to sanction North Korea. China and Russia voted with us. Very big financial impact!” Trump wrote. 
 
 Trump “appreciates China’s and Russia’s cooperation in securing passage” of the resolution, the White House said in a later statement. The U.S. president “will continue to work with allies and partners to increase diplomatic and economic pressure on North Korea to ends its threatening and destabilizing behavior,” it said. 
 
 U.S. PRESSURE ON CHINA 
 
 Russia’s U.N. Ambassador Vassily Nebenzia said he hoped recent remarks by U.S. Secretary of State Rex Tillerson “were sincere - that the U.S. is not seeking to dismantle the existing situation or to forcibly unite the peninsula or to militarily intervene in the country.” 
 
 While the Security Council has been divided on how to deal with other international crises like Syria, the 15-member body has remained relatively united on North Korea. Still, negotiating new measures typically takes months, not weeks. 
 
 North Korea has been under U.N. sanctions since 2006 over its ballistic missile and nuclear programs. The new measures came in response to five nuclear weapons tests and four long-range missile launches. 
 
 The United States negotiated with China for a month on the resolution, then expanded negotiations to the full council on Friday. 
 
 Washington, frustrated that China has not done more to rein in North Korea, has threatened to exert trade pressure on Beijing and impose sanctions on Chinese firms doing business with Pyongyang. 
 
 “We had tough negotiations this week,” Haley told reporters. “I think that the Chinese realized that the United States was going to push, but they responded and we appreciate how they cooperated with us during these negotiations.” 
 
 Liu, asked about U.S. negotiating pressure, said China has been consistent on trying to achieve denuclearization, peace and stability on the Korean Peninsula and “to re-launch negotiations to achieve this end.” 
 
 He told reporters China was “opposed to any unilateral sanctions outside the agreed framework set by the U.N. Security Council resolutions.” 
 
 RUSSIA/U.S. COOPERATION 
 
 It had been unclear whether strained U.S.-Russia relations would hamper negotiations on North Korean sanctions. On Wednesday, Washington imposed unilateral sanctions on Moscow to punish Russia over accusations of interference in the 2016 U.S. presidential election and annexation of Ukraine’s Crimea. 
 
 “We are not hostages to our relations when we have to work together on issues which are far more important,” Russia’s Nebenzia told Reuters. 
 
 The new U.N. resolution adds nine individuals and four entities to the U.N. blacklist, including North Korea’s primary foreign exchange bank, subjecting them to a global asset freeze and travel ban. 
 
 “I would think China and Russia signed on the sanctions hoping that they would force North Korea back to the negotiating table,” said Thomas Byrne, president of the New York-based Korea Society. “However, North Korea will try to evade the new sanctions.” 
 
 The new resolution completely bans North Korean exports of coal. In November, the Security Council capped the North’s coal exports at $400 million annually. China, its largest buyer, halted imports in February. 
 
 A U.N. diplomat said North Korea had been expected to earn an estimated $251 million from iron and iron ore in 2017, $113 million from lead and lead ore, and $295 million from seafood. The diplomat said it was difficult to estimate how much North Korea was earning from sending workers abroad. 
 
 A United Nations human rights investigator said in 2015 that North Korea had forced more than 50,000 people to work abroad, mainly in Russia and China, earning between $1.2 billion and $2.3 billion a year for the government. 
 
 Joseph DeThomas, a former State Department official who worked as an adviser on Iran sanctions and on previous rounds of North Korea sanctions, said freezing foreign labor would be difficult to enforce. 
 
 Intercontinental ballistic missile (ICBM) Hwasong-14 is pictured during its second test-fire in this undated picture provided by KCNA in Pyongyang on July 29, 2017. KCNA via Reuters 
 
 “Overall I doubt that $1 billion number. I doubt it will hit that hard in terms of economic damage,” he said. “You cannot expect North Korea to buckle for anything less than the sanctions imposed on Iraq in 1990.” 
 
 These sanctions, he said, remain “a very long way” from there.
– China appeared to give a boost to US efforts to curtail North Korea's nuclear program on Sunday, one day after the United Nations voted to impose new sanctions on the country. After meeting North Korea's top diplomat, Chinese Foreign Minister Wang Yi urged North Korea to make the "smart decision" and stop testing nuclear weapons and launching missiles, the Washington Post reports. “Do not violate the UN's decision or provoke international society’s goodwill by conducting missile launching or nuclear tests,” Wang said. China's warning came a little more than a week after North Korea tested a ballistic missile that experts say could hit major cities in the United States. On Saturday, the UN Security Council unanimously approved new sanctions on North Korea, banning the country's largest exports, coal, iron and iron ore, lead and lead ore, and seafood, the Los Angeles Times reports. The resolution also freezes the assets of a North Korean art studio that makes Communist-style statues and monuments for dictatorships around the world. All told the sanctions would cut North Korean annual exports by a third, from $3 billion to $2 billion. In response to the UN vote, North Korea's state-run newspaper, Rodong Sinmun, condemned the United States on Sunday, CNN reports. "The US mainland will sink into an unimaginable sea of fire on the day when it dares to touch our country by stupidly causing mischief and brandishing its nuclear and sanctions clubs," the article warned.