Diplomats say the UN Security Council will vote on a U.S. and Chinese proposal to impose sanctions on more North Korean individuals and entities after Pyongyang's repeated ballistic-missile launches.
It is the first Security Council sanctions resolution on North Korea agreed between the United States and China since President Donald Trump took office in January.
The draft resolution seen by the media would impose sanctions on four entities and 14 people.
The institutions include the Koryo Bank and the Strategic Rocket Force of the Korean People's Army.
According to a South Korean government database, Koryo Bank handles overseas transactions for Office 38, a secretive body that manages the private slush funds of the North Korean leadership.
One of the 14 individuals is Cho Il U, who is believed to be in charge of Pyongyang's overseas spying operations.
If the resolution is adopted, those on the list would be subject to a global asset freeze and travel ban.
The United States had been negotiating with China for five weeks on possible new sanctions. Washington and Beijing reached agreement and circulated the draft resolution to the remaining 13 council members on June 1.
China is North Korea's sole major diplomatic ally.
Russian Deputy Foreign Minister Gennady Gatilov told reporters on June 2 that Russia "will not veto" the resolution.
Permanent UN Security Council members Russia, the United States, China, Britain, and France have the power to veto resolutions in the 15-member body.
With reporting by Reuters, Interfax, and TASS