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Treasury Secretary Scott Bessent warns of economic punishment for countries maintaining trade links with Iran.

Treasury Secretary Scott Bessent announced that the United States will impose specific economic punishments on countries that fail to sever trade links with Iran. As part of an "economic D-Day" campaign to isolate the country, the administration announced that nations will face a specific timeline to shut down their connections with Iran or face unilateral US punishment. To support this goal, the US unveiled sanctions against more than 60 entities, focusing on five of Iran's "most vital lifelines," including digital assets, technology, gold, aviation, and shipping. These measures are intended to help isolate Iran while encouraging global markets to diversify their reserves and trade links to avoid over-reliance on the dollar-based system. Meanwhile, the US Treasury could use the Treasury General Account for buyback auctions, which led to a news report of a slight fall in US 10-year yields. Treasury Secretary Scott Bessent also noted that the US Treasury will continue with its regular program of debt auctions as announced in the last quarterly refunding.

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