US Treasury Secretary Bessent launched "Operation Economic Pariah" to sever all funding lifelines to the Iranian regime and its backers, and issued a new call for whistleblowers to provide information on individuals who assist Iran in carrying out terrorist activities.

Russia has imposed an oil-products export ban to stabilise domestic supply, a measure Peskov said has a material impact on international markets amid rising Persian Gulf tensions. He said the ban will only be considered for removal once Russia’s domestic market has recovered. Replying to President Trump’s call for Ukraine to stop strikes on Russian fuel facilities, Peskov said any appeal for Kyiv to cease attacks on civilian economic infrastructure should be welcomed. When asked whether Russia would reciprocate if Ukraine complied, he declined to comment.

WTI and Brent crude surged intraday: WTI spot topped $100/bbl, up 3.60% on the day; WTI futures breached $104/bbl, up 4.01%. Brent rose 4.00% to $105.81/bbl.