Saturday's United Nations resolution banned exports of coal, iron and iron ore, lead and lead ore as well as fish and seafood by the cash-starved state.
The U.S., which had drafted and put forward the resolution, negotiated for more than a month with China over the text and final measures targeting Pyongyang.
Another reading of the drills is as a signal for Pyongyang to simmer down, after North Korea launched another ballistic missile on July 28, boasting that it could now reach the entirety of the USA mainland.
Discussions are also under way for a US$3 billion railway project to connect Manila to Bicol, one of the poorest areas in the country's south.
ASEAN also broke the deadlock over how to address disputes with China in its customary communique, which was delayed by internal disagreement.
JOHN DELURY: The two previous South Korean governments essentially bought into a sanctions approach to try and stop North Korea, and it hasn't worked.
"The aim is to bring the peninsula nuclear issue back to the negotiating table and seek a solution through negotiations until the denuclearization of the peninsula and the stability of the peninsula are achieved", Wang said. "He will continue working with allies and partners to increase diplomatic and economic pressure on North Korea to end its threatening and destabilizing behavior". In this photo, North Korean leader Kim Jong-Un inspecting the test-fire of intercontinental ballistic missile Hwasong-14 at an undisclosed location.
Speaking to reporters after the council vote, Washington's ambassador to the UN Nikki Haley said "what's next is completely up to North Korea". He also requested that China restrict crude oil exports to North Korea. The UNSC had restricted the export of coal which is North Korea's most exported item to $400 million in November from $1.2 billion that it used to make.
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North Korean foreign minister Ri Yong Ho will attend Monday's meeting with the US, Japan and South Korea expected to push for stronger actions against the North.
U.S. President Donald Trump tweeted out praise for China approving the measure.
Wang's statement repeated Beijing's proposal for a "double suspension", or a halt to North Korean nuclear development and to joint U.S.
While analysts doubted whether the new document would help to regulate behaviour of countries in the sea, Philippines Foreign Minister Alan Peter Cayetano said "when compared with domestic law, I look at the DOC as the constitution and the COC is a law implementing the constitution". "It was a determination to defend against North Korea".
"He said he's not going to tolerate North Korea being able to threaten the United States", McMaster said. China, North Korea's biggest customer by far, signed on.
It adds nine North Koreans, mainly officials or representatives of companies and banks, to the United Nations sanctions blacklist, banning their travel and freezing their assets.
All 15 Security Council members approved the resolution, including Russian Federation and China.