The move is backed by Mali's government, which earlier told the council that repeated ceasefire violations by jihadists threatened to derail a 2015 peace agreement ending years of fighting with the insurgents in the north.
Islamist jihadists took over territory in northern Mali in 2012, but were driven out by a French-led military intervention in January 2013.
Mali's government signed a peace agreement with coalitions of armed groups in June 2015 to end the fighting, but insurgents remain active, including in central Mali.
Russia, a veto-wielding council member, had expressed reservations about the proposal.
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"We are always against the sanctions regime, especially in this particular situation, when one of the parties to the agreement on peace and reconciliation asks for sanctions against the other two parties," said Russian Deputy Ambassador Petr Iliichev yesterday.
"When one party asks for another (to be sanctioned), we can expect a collapse of this agreement," he added.
Diplomats said they expected the measure to be adopted following talks with the Bamako government.
The resolution would set up a sanctions committee made up of all Security Council members to designate individuals and entities the United Nations would blacklist.
Those on the list would be subject to a global travel ban and an assets freeze.
No names have been submitted, but the draft text states that those who obstruct or delay the peace agreement implementation, block aid deliveries, or attack UN peacekeepers can be blacklisted.