Lee also called on North Korea to heed the global community's call for ending provocations as Pyongyang claimed that its latest missile test is to help ensure safety and security on the divided peninsula.
"There's a lot of sanctions left that we can start to do, whether it's with oil, whether it's with energy, whether it's with their maritime ships, exports", US Ambassador Nikki Haley told ABC television's "This Week".
The United States, Japan and South Korea called the emergency meeting to press worldwide demands that North Korea change course and dismantle its missile and nuclear programs.
The U.S. has stepped up diplomatic pressure on North Korea by drawing closer to China.
North Korea has made no secret of the fact that it is working to develop a nuclear-tipped missile capable of striking the USA mainland and has ignored calls to rein in its nuclear and missile programs, even from China, its lone major ally.
"We need to return to dialogue with the Democratic People's Republic of Korea, stop intimidating it and find ways to solve these problems peacefully", Putin was quoted as saying, using North Korea's official name.
Flanked by ambassadors from Japan and South Korea, Ms Haley reiterated the United States position that it is willing to engage in talks with Mr Kim's regime if it abandons its nuclear aspirations.
"We will make sure that everyone knows who you are and we will target those sanctions towards you as well".
The latest launch appeared to fulfill both criteria, Haley said, "so I believe that China will stay true to that, and that we'll come together on how we're going to do that".
Addressing reporters after the meeting, the council president, Uruguay's Ambassador Elbio Rosselli, said that "clearly sanctions are a way to go" but stressed support for diplomacy to engage with Pyongyang.
There were no new, major incidents in the United States. "I think it is possible".
The North Korean mission to the United Nations was not immediately available for comment on Monday. They're intimidating the entire global community.
"This is the longest-range missile North Korea has ever tested", Jeffrey Lewis of the Middlebury Institute of International Studies in the USA told AFP.
"That's not the full-up operational seamless capability that we want, but it is an additional ability to defeat North Korean missiles", he said.
Trump warned this month that a "major, major conflict" with North Korea was possible, and in a show of force, sent the Carl Vinson aircraft carrier strike group to Korean waters to conduct drills with South Korea and Japan.
The US government has disclosed a plan to strongly stage a campaign to alienate saber-rattling North Korea from the worldwide community in order to hold it responsible for its reckless acts and human rights violations, a US broadcaster said Tuesday.
She said North Korean leader Kim Jong Un is "paranoid" and thinks that the United States is trying to promote regime change and that there are people trying to assassinate him.
South Korea's unification ministry on Wednesday expressed a need to reopen an inter-Korean communication hotline, which was severed early past year following North Korea's nuclear and missile tests.
Though North Korea has never admitted any involvement in the Sony Pictures hack, security researchers and the U.S. government are confident in the theory and neither can rule out the possibility of a false flag.