JD Vance says US-Iran accord to be made public this week

WASHINGTON: US Vice President JD Vance said on Monday that the text of a landmark agreement to halt the war in Iran and reopen the strategically vital Strait of Hormuz is expected to be made public this week, even as fine-tuning of the deal continues.

Speaking in an interview with CNBC, the vice president emphasised that Washington expects the crucial maritime trade route to remain accessible without any financial levies over the long haul.

“Our expectation is that the Strait is going to be opened in a toll-free way for the long-term,” Vance stated.

“That’s the sort of thing that we’re going to figure out in these technical negotiations. You know that there are a lot of very important details to figure out that we’re actually going to sit at the table and discuss together and figure out a path forward.”

The preliminary agreement between the US and Iran has injected a wave of relief into volatile global markets.

The conflict, which erupted in February following joint US-Israeli airstrikes on Iran, has claimed thousands of lives and severely destabilised global energy supply chains.

While the current understanding serves as a foundational framework rather than a finalized treaty, it represents the most significant diplomatic breakthrough since hostilities began.

However, observers note the pact’s long-term success may still hinge on a cessation of hostilities in Lebanon, while contentious talks regarding Tehran’s nuclear program have been deferred for the time being.

According to Vance, a formal signing ceremony is scheduled to take place in Switzerland this coming Friday.