President Trump announced an 'unprecedented' economic campaign against Iran. Treasury Secretary Bessent said specifics of the 'unprecedented economic isolation' measures will be published on the 24th; fewer than 24 hours remain. Iran warned on the 23rd that if the U.S. carries out an economic offensive it would stop oil exports via the Strait of Hormuz and across the Persian Gulf. Some analysts cautioned the measures could produce a mutually damaging outcome.

On the 23rd, Iranian foreign minister Abbas Araghchi said Iran has never feared U.S. sanctions, asserting previous U.S. measures — including blockades and military actions — have failed and that President Trump’s latest “economic action” is routine U.S. bullying that will likewise fail. Araghchi said the U.S. is out of options and should seek respectful, justice-based dialogue with the Iranian people.

Nikkei reports Japan’s Green Transformation Acceleration Agency (GX) has committed JPY20 bln (~$125m) in public‑private funding to two startups—Kyoto Fusion Engineering and JEPLAN—focused on nuclear fusion and plastic recycling. The move is part of a broader government plan to mobilize JPY370 tln (over $2.3 tln) of public and private capital across 17 strategic sectors by fiscal 2040 under Prime Minister Takaichi’s growth and decarbonization agenda. Details of the two investments are expected soon; the public funding is intended to crowd in private investment and accelerate commercialization of advanced technologies.