Trump coy on ‘economic D-Day’ measures toward Russia, China

President Trump shrugged off questions Thursday about whether countries are taking the U.S.’s “economic D-Day” threats seriously after reports that Russian President Vladimir Putin is set to meet with Iran’s president.

When asked if he would punish Putin if the country continues interacting with Iran, Trump said, “it depends.”

“I think Russia has behaved quite well having to do with the Strait of Hormuz,” he said.

“For everything they do, we do also,” Trump added. “Somebody said what about China spying. We spy on them too. That’s the way it goes.”

He also shot back at questions on why he won’t sanction Chinese banks that are still doing business with Iran.

“Well, who said I’m not?” he said. “I mean, who said I’m not? You don’t know if I’m doing it. Well, I don’t have to announce everything, do I?”

Treasury Secretary Scott Bessent last week warned Iran’s global partners to cut ties or risk being cut off from the U.S. dollar system, a strategy named Operation Economic Outcast. He wouldn’t name any specific countries and said the U.S. was holding off on immediate action to avoid shaking the global economy.

Bessent said Trump was making calls to world leaders and that officials from the Defense, Treasury and State departments were calling their counterparts to demand action in severing ties with Iran.

Fox News reported Thursday that Bessent will ask his fellow global finance ministers to “sever the economic leakage” of their financial ties to Iran when he attends the Group of 20 summit later this month.

Trump maintained Thursday that boats are traveling through the Strait of Hormuz, adding that he was in no rush to resume negotiations with Iran.

He said Iran is not currently paying its troops and the country is in “deep trouble.”

“We have control, and we have the blockade,” he said. “Iran’s not getting anything.”