Vance Says Hormuz Should Stay Open as Iran Talks Continue

U.S. Vice President J.D. Vance said the details of a possible agreement with Iran are still being worked out, but Washington expects the Strait of Hormuz to remain open to shipping “without restrictions” and for the long term. In an interview with CNBC, he said the United States will watch Tehran’s willingness to make concessions in any future understanding.

Vance said any deal could include a “two-stage verification mechanism” to ensure compliance, but he did not elaborate. He also said Iran would be represented at the signing ceremony in Switzerland on Friday by Foreign Minister Abbas Araghchi and parliament speaker Mohammad Baqer Qalibaf, and added, “We expect the details of the agreement to be published this week.”

He rejected claims that the agreement would give Iran $24 billion, saying there is no such clause and accusing Iranian officials of trying to create the impression that frozen funds are being unlocked. “The inspection will be completed, then the nuclear program will be halted, and then we will talk about the frozen funds,” Vance said.

He added that Washington would speak with the International Atomic Energy Agency and Iran about how to destroy enriched uranium. In response, Iranian Foreign Ministry spokesman Esmail Baghaei said at his weekly briefing that the United States had committed to releasing frozen Iranian assets abroad and paying compensation for war damage as part of the deal to end the war in the Middle East. Baghaei said those two points, asset release and compensation, are “fundamental,” and said the American side had agreed to act on both. Separately, Iran said it will impose maritime service fees on ships passing through the strategic Strait of Hormuz, not transit fees, under the framework agreement reached with the United States.