US military lifts blockade on Iranian ports

US Vice President JD Vance said foreign investment in Iran would require US approval and sanctions relief, arguing that any such opening would depend on Tehran changing its behavior and could give Persian Gulf Arab states new leverage over Iran.

Vance said any foreign investment in Iran would require US sanctions relief and approval, arguing that Persian Gulf Arab economic involvement could give regional states leverage over Tehran if it changes its behavior.

Vance said there was “a great desire from the Arab world and from outside the Arab world” to invest in Iran if Tehran “behaves properly,” but stressed that such projects would not be possible without Washington’s approval because of US sanctions.

Citing the example of a potential power plant project funded by the United Arab Emirates, Vance said: “If they behave, and if the Emiratis themselves want to build a power plant, then we will do the sanctions relief necessary to make that possible.”

He said allowing such investment would create economic integration that could serve as leverage over Tehran.

“It actually creates integration, which is leverage,” Vance said. “A world where the [Gulf Coast Coalition has greater leverage into the Iranian economy is a world where the Iranians are going to be heavily prevented from misbehaving.”

Vance said Persian Gulf Arab states saw Iran as weakened and believed there was an opportunity to build a new relationship with Tehran, but added that any such opening remained hypothetical because it would require “a transformation in Iranian behavior.”

Asked about the US plan to destroy Iran’s highly enriched uranium stock, Vice President JD Vance said technical negotiations were expected to begin this weekend, though the timing could still change.

“These technical negotiations are going to start sometime this weekend. That's still the plan, but that could change because it's not an easy country, Iran, to get out of, and so we're trying to figure out exactly when that's going to happen,” Vance said.

“I suspect this weekend, but I'm not sure. I may, it just depends on exactly when the Iranians can get there. We're trying to figure that out as we speak, but again, I suspect it will happen this weekend,” he added.

US Vice President JD Vance said international waterways should be free of tolls and any final agreement with Iran must ensure the Strait of Hormuz is not used as a choke point for the global economy.

“First of all, we believe international waterways should be free of tolls, and that's been our position. That's what you see, of course, in the 60 days of the MOU,” Vance said.

Vance said the memorandum of understanding envisioned Oman, Iran and the GCC working together on a future security framework for the strait.

“We don't ever want this to happen again,” Vance said. “That's not about tolling, that's about ensuring that the straits are never used as a choke point for the global economy ever again.”

“We're going to do, of course, working with our allies in the region, is to ensure that that is reflected in the final deal, and if that's not reflected in the final deal, there's not going to be a final deal,” he added.

“If the Iranians want the benefits of the bargain, they have to give us the things that are necessary to get those benefits,” he said.

Vice President JD Vance said the United States would take a holistic approach in deciding whether Iran had crossed a red line that could prompt Washington to resume the war.

“It's going to be a holistic approach where we look at their behavior, are they funding terrorism, are they leading to attacks of other people, are they trying to get centrifuges to redevelop their nuclear weapons program,” Vance told a press briefing.

“There are all these questions that we're going to ask about whether they've actually changed their behavior. Do they allow the inspectors in as they have promised that they would do, or do they refuse to allow those inspectors in? A whole host of things.”

Vance said the United States was working toward “a very successful resolution of this process,” but added that “it takes two to tango.”

“What the President is just saying is that we maintain economic, diplomatic, and military leverage that nobody else in the world has,” Vance said.

“So, if the Iranians want to change, great, we're going to help them. If they don't change, we still got all the cards,” he added.

US Vice President JD Vance said Iran had not fired at any ships in the Strait of Hormuz for a second consecutive night and was so far honoring its commitment under the agreement.

“On the military side, the Iranians, for the second night in a row, did not shoot at any ships in the Strait of Hormuz. So far they are honoring their end of the commitment,” Vance told a press briefing.

“And on the blockade, CENTCOM has allowed north of a dozen ships to go through our naval blockade, and so we're also honoring our end of the early part of the agreement,” he added.

Vance said Iran would only be able to access frozen assets or reconstruction funds if it complied with the agreement and changed its behavior.

“You will hear things about $300 billion or $24 billion or this or that number of money or amount of money, and the simple fact is that the only way the Iranians get any of those resources, not a single penny, by the way, from the United States of America under any circumstances, but the only way that they would ever get any benefit of the bargain is if they comply fully and change their behavior,” he said.