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The UN Security Council unanimously approved new sanctions against North Korea

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The U.N. Security Council unanimously voted Monday to impose new sanctions on North Korea.

The United States watered-down its initial draft of the resolution to appease China and Russia, both of which have veto power.

The resolution bans North Korea from importing all natural gas liquids and condensates.

In addition, the watered-down resolution caps North Korea's crude oil imports at the level of the last 12 months and limits the import of refined petroleum products to 2 million barrels a year. It also bans all textile exports, which Reuters reports was the country's second-biggest export in 2016.

The decision comes just over a week after the reclusive nation conducted its sixth and most powerful nuclear test to date.

Ahead of the vote, North Korea warned that the United States would pay a heavy price if harsher sanctions were approved. The North's Foreign Ministry issued a statement saying the country is "ready and willing" to respond with measures of its own.

The Associated Press contributed to this report.

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