As codified in many, many Security Council resolutions, the international  legal  standing of these lands from day one (i.e., following the 1967 war) has been that they are 'Occupied Territories'. As such, the settlements are a violation of international law. 

The present resolution simply restates previous resolutions of the  Council.  The International Court of Justice in The Hague also reiterated that the settlements are illegal under international law in its ruling of 2004 ("Legal Consequences of the Construction of a Wall in the Occupied Palestinian Territory")