Intending to penalize North Korea for keeping its ballistic missile program alive, the UN Security Council on August 6 unanimously imposed sanctions banning North Korean exports and limiting foreign investment.
US ambassador to the UN, Nikki Haley termed it, "the most stringent set of sanctions on any country in a generation".
Sanctions have failed to deter North Korea's unruliness in the past.
10 companies and six individuals of Chinese and Russian origin have been sanctioned by the US Treasury.
These entities who support North Korea's nuclear and ballistic missile programs will no longer be permitted to do business with American individuals and companies, isolating them from the US financial system.
China has called on the US to "immediately correct its mistake" of sanctioning its firms.