President Trump said any punishment for Russian President Vladimir Putin over Russia’s continued interaction with Iran would “depend,” while arguing that Russia has behaved well regarding the Strait of Hormuz. Trump also said the U.S. spies on China because “for everything they do, we do also,” and declined to say whether Chinese banks doing business with Iran would face sanctions. Treasury Secretary Scott Bessent has warned Iran’s global partners that they risk losing access to the U.S. dollar system under Operation Economic Outcast, while the U.S. delays immediate action to avoid disrupting the global economy. Fox News reported that Bessent plans to urge finance ministers at the G20 Summit later this month to “sever the economic leakage” of their financial ties to Iran. Trump said vessels are still traveling through the Strait of Hormuz, that he is in no rush to restart negotiations with Iran, and that Tehran is in “deep trouble” because it is not currently paying its troops.