DHAKA: The United Nations (UN) Security Council approved tougher fresh sanctions against North Korea over its nuclear and missile programs, reports ABC News.

A resolution banning North Korean exports and limiting investments in the country was passed unanimously.

The US ambassador to the UN, Nikki Haley, said it was "the most stringent set of sanctions on any country in a generation".

Earlier, North Korea tested two intercontinental ballistic missiles in July, claiming it now had the ability to hit the US.

However, experts doubt the capability of the missiles to hit their targets.

The tests were condemned by South Korea, Japan and the US, and prompted the drafting of the new UN sanctions.

US Secretary of State Rex Tillerson is attending a regional forum of the Association of Southeast Asian Nations (Asean) in Manila, in the Philippines, with North Korean Foreign Minister Ri Yong-ho also present.

North Korea's nuclear program is expected to be a major issue but there are no plans for a bilateral meeting, US officials say.

Speaking as he sat down for talks with South Korean Foreign Minister Kang Kyung-wha, Tillerson said the sanctions were a "good outcome".

US President Donald Trump tweeted to say the sanctions would cost the North more than $1bn (£0.7bn).

The export of coal, ore and other raw materials to China is one of North Korea's few sources of cash. Estimates say that North Korea exports about $3bn worth of goods each year - and the sanctions could eliminate $1bn of that trade.

Earlier this year, China suspended imports of coal to increase pressure on Pyongyang.

However, repeated sanctions have so far failed to deter North Korea from continuing with its missile development.

BDST: 1609 HRS, AUG 6, 2017
SI