North Korea Crisis: US Seeks Kim Jong-Un's Asset Freeze
The US has proposed a range of new United Nations sanctions against North Korea, including an oil ban and a freeze on leader Kim Jong-un's Assets.
The draft resolution circulated to the Security Council members comes after North Korea's sixth nuclear test and repeated missile launches.
Pyongyang also claims to have Developed a Hydrogen Bomb and continues to threaten to strike the US.
China and Russia are both expected to oppose further sanctions.
North Korea is already under highly restrictive sanctions imposed by the UN nthat is intended to force the leadership to curtail its weapons programs.
In August, a new round of sanctions banned exports including coal, costing North Korea an estimated $1bn (£767m) - about a third of its entire export economy.
But some trade avenues remain open to it.
The draft US proposal calls for a total ban on supplying a range of oil products to North Korea and a ban on its textile export industry.
It also suggests freezing the Assets of Kim-Jong-Un and the North Korean Government, as well as banning him and other senior officials from traveling.
North Korean laborers would also be banned from working abroad.
Remittances from foreign earnings and textile exports are two of the most important remaining sources of income for North Korea.
But the US is expected to face opposition from China and Russia, which both supply oil to North Korea and wield vetoes at the Security Council.
China is both North Korea's and the US' biggest trade partner and has supported recent sanctions against it.
But both China and Russia have been pushing for an alternative solution.
On Thursday, the South Korea's military announced it had completed the deployment of Thaad.
The US president, who has previously threatened a military response to North Korea, told reporters this was "not our first choice", but did not rule it out.
President Trump added: "The Chinese President Xi would like to do something. We'll see whether or not he can do it. But we will not be putting up with what's happening in North Korea."