The success of a new round of sanctions could depend on enforcement by China, where most of the companies and banks that North Korea is believed to work with are based.
The United States and other nations worry that North Korea's third nuclear test pushed it closer to its goal of gaining nuclear missiles that can reach the U.S.
The international community has condemned the regime's nuclear and missile efforts as threats to regional security and a drain on the resources that could go to North Korea's largely destitute people.
The draft resolution condemns the latest nuclear test "in the strongest terms" for violating and flagrantly disregarding council resolutions, bans further ballistic missile launches, nuclear tests "or any other provocation," and demands that North Korea return to the Nuclear Nonproliferation Treaty.
It also condemns all of North Korea's ongoing nuclear activities, including its uranium enrichment.