US unveils 'economic D-Day' against Iran as oil markets dip

The US has announced an "economic D-Day" against Iran, described as the greatest financial offensive ever directed at an adversary, with specific measures to be revealed later Monday. Treasury Secretary Scott Bessent stated the campaign aims to sever all economic lifelines supporting Iran, following President Donald Trump's earlier pledge of a crushing operation. The measures may target nations buying Iranian oil or facilitating its finances, adding to an existing naval blockade. Oil prices fell Monday despite heightened rhetoric, with Brent crude trading around $91.5, down 2%. The decline follows reports of increased tanker traffic through the Strait of Hormuz, though volumes remain below pre-conflict levels. Bessent will hold a press conference at 7 PM CET.