The young despot is banned from selling textiles and faces limits on oil imports, potentially ruining his capacity to trade with other countries and bankrupting the secretive state.
And ships found near the peninsula will face searches for contraband, stopping anybody undercutting the new sanctions.
However the resolution does not impose an oil import ban or international asset freeze on the government and leader Kim Jong Un that the Trump administration had wanted.
Donald Trump’s UN ambassador Nikki Haley said: “We are done trying to prod North Korea to do the right thing.
“We are now acting to stop it doing the right thing.”
She added Pyongyang has “not yet passed the point of no return.”
Mrs Haley said: “If it agrees to stop its nuclear program, it can reclaim its future.
“If it proves it can live in peace, the world will live in peace with it,”
And the UN ambassador claimed the sanctions were a result of the actions of dealmaker in chief Donald Trump and his relationship with Chinese President Xi Jinping.
She added: ”Today’s resolution would not have happened without the strong relationship that has developed between President Trump and Chinese President Xi.”
Boris Johnson said the new measures were “the most stringent UN sanctions regime placed on any nation in the 21st century”.
He said: “The international community has shown it is united against the illegal and reckless acts by the North Korean regime.
“This resolution will curtail gas, petrol and oil imports.
“It will ban all textile exports, taking hundreds of million dollars from the export revenues that the North Korean regime uses to fund its illegal nuclear and ballistic missile programmes. And it will end the exploitation of DPRK labourers abroad.
“The North Korean regime bears full responsibility for the measures that the UN Security Council has enacted today. It is their continued, illegal and aggressive actions that have brought us to this point, and it is North Korea that must change its course.”