It also blocks North Korean exports of silver, copper, zinc and nickel.
The UN Security Council unanimously voted today, 30 November 2016, to impose the "toughest and most comprehensive sanctions regime ever" on the Democratic People's Republic of Korea (DPRK) over its nuclear weapons programme.
The U.N. Security Council has voted to tighten sanctions on North Korea in response to their fifth and largest nuclear test. "But this resolution imposes unprecedented costs on the DPRK regime for defying this council's demands", she said.
Other measures to limit the government's access to hard currency include a ban on exporting statues, which North Korean workers have been commissioned to build - most commonly in African states. Beijing has also remained highly critical of the U.S. and of South Korea, accusing both countries of provoking the regime with stepped-up military exercises to its south.
The Security Council has met nine times this year for emergency consultations in response to North Korean ballistic missile and nuclear test activity.
North Korea, which has been under United Nations sanctions for a decade, is technically still at war with its southern neighbor, South Korea, because the Korean War ended in 1953 with an armistice, not a peace treaty.
The resolution also adds bone china, rugs and tapestries to the list of banned luxury items that can not be sold to North Korea, where they have been doled out as rewards for supporters of the regime's leader, Kim Jong Un, and it suggests that countries reduce the number of North Korea diplomats accredited in their capitals.
"The decision was to further strengthen sanction that were set in March this year, by the United Nations Security Council, in North Korea".
The Korean Peninsula remains technically at war, as the 1950-53 Korean War ended in an armistice, not a peace treaty. Byrne added that it was important to tamp down North Korean resources without having a negative effect on China's economy.
The UN has responded to North Korea's fifth and largest nuclear test with new sanctions to slash its annual export revenues by 25%.
What the resolution doesn't do is inspire much optimism that Kim Jong Un will submit to multiple United Nations demands to destroy the regime's existing nuclear weapons and scrap its program to build more.
"Sanctions are only as effective as their implementation", he continued.
China imported almost 2.5 million tons of coal from North Korea in August despite the March sanctions.
Nearly all of North Korea's coal goes to China.
The resolution targets coal, North Korea's most lucrative export, slashing the amount it can sell by 60 percent from last year's levels.
The country said that the planned USA deployment of a Terminal High Altitude Area Defence (THAAD) anti-missile system in South Korea would seriously affect Chinese security and it would not influence North Korea to go back under negotiations.
Some experts have predicted that North Korea will escalate its nuclear program testing during President-elect Donald Trump's first year in office to provoke Trump, CBS News said.