According to the source, the move is intended as a final warning for countries to sever business ties with Iran and help force an end to the nearly six-month conflict, which has disrupted shipping through the Strait of Hormuz and energy exports from the Arabian Gulf.
Treasury Secretary Scott Bessent is expected to announce details at a 1 p.m. EDT (1700 GMT) news conference and outline the broader pressure campaign that he and President Donald Trump have called an “economic D-Day.”
Bessent is expected to warn countries that they must side with Washington or risk having key companies and entities cut off from the dollar-based financial system, the report said.