Since September a year ago, North Korea has carried out a nuclear test - its sixth - and a series of advanced missile launches which are banned under United Nations resolutions.
The council unanimously adopted a US-drafted resolution that also orders the repatriation of North Korean workers overseas and earning revenue for Kim Jong-Un's regime.
The US-drafted resolution would also cap off crude oil supplies to North Korea at 4 million barrels a year.
The UN Security Council unanimously adopted fresh sanctions against North Korea on Friday in response to the country's launch of an intercontinental ballistic missile last month.
"It [the resolution] sends the unambiguous message to Pyongyang that further defiance will invite further punishments and isolation", Nikki Haley, the USA ambassador to the United Nations, said following the vote.
Columnist for NK News, Peter Ward said the sanctions would be "devastating" for the Democratic People's Republic of North Korea's (DPRK) haulage industry, and for businesses and people using home generators.
The country had also regularly threatened they would destroy South Korea, Japan and the United States and continue to claim that the weapons program is necessary to counter U.S. aggression.
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It's a move that analysts said could have a significant impact on the isolated country's struggling economy.
Quoting a diplomatic source, Reuters said Thursday that the measures seek to slash almost 90 percent of refined petroleum products exported to North Korea. The United States stations 28,500 troops in the South, a legacy of the 1950-53 Korean War.
China, however, raised objections at those sanctions and the request to ban the 10 ships from ports worldwide will again be considered on December 28.
The previous sanctions resolution was adopted on September 11 in response o North Korea's sixth and strongest nuclear test explosion on September 3.
Those new sanctions banned North Korea from importing all natural gas liquids and condensates.
The United States has led the drive at the Security Council to tighten sanctions aimed at piling pressure on Kim's regime to come to the negotiating table.