The United Nations Security Council has unanimously imposed new sanctions on the Democratic People's Republic of Korea.
The belligerent move was said to be in response to Pyongyang's two intercontinental ballistic missile tests in July.
Both China, the DPRK's traditional ally, and Russia backed the measures, along with the other Security Council members.
UN #SecurityCouncil unanimously grants new sanctions on #DPRK over its ICBM tests, including $1 billion export ban https://t.co/pBnabOj5Po pic.twitter.com/UIhiHQRtK1
— China Xinhua News (@XHNews) 5 August 2017
The sanctions could slash the DPRK's annual US$3 billion export revenue by a third.
The U.S.-drafted resolution prohibits U.N. member states from buying exports of coal, iron, iron ore, lead, lead ore and seafood.
It also adds nine individuals and four entities to the blacklist, including the DPRK's primary foreign exchange bank, subjecting them to a global asset freeze and travel ban.
The United States negotiated with China for a month on the latest resolution, before expanding negotiations to the full 15-member council.
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Data from the Chinese Ministry of Commerce shows trade between Beijing and the DPRK grew by 13.7 percent between January and May, while China Customs figures said it increased by 37.4 per cent increase in the first three months of the year.
Chinese officials have urged a return to the negotiating table, and for the U.S. to accept its “dual suspension” approach, which calls for the U.S. and South Korea to end joint military exercises – one is scheduled for this month – and for the DPRK to suspend its nuclear program.
Pyongyang has accused the United States and South Korea of escalating tensions by conducting the drills.