The UN Security Council is expected to vote Saturday on a draft resolution imposing tougher sanctions on North Korea for its latest intercontinental ballistic missile launches.

If the U.N. resolution is adopted, it will be the eighth North Korea sanctions resolution to date, this one completely blocking North Korean exports of coal, iron, iron ore, lead, lead ore as well as seafood.

The measure would also restrict countries from forging new joint ventures with North Korea in any shape or form and prohibit any additional acceptance of North Korean workers.

The sanctions are estimated to affect around one billion dollars worth of North Korean exports out of its annual total shipments of some three billion dollars.

Also, North Korean vessels that violate U.N. resolutions would be banned from entering all U.N. member nations. 

However, the resolution reportedly does not block crude oil supplies to the regime, a proposal that received most attention. Failing to sanction oil is widely seen as a distinct limit on the resolution's effectiveness.

In order to pass, the resolution needs the support of at least nine of the 15 Security Council members, with none of the five permanent members, including China and Russia, exercising their veto privilege.

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