U.S. Vice President (VP) JD Vance affirmed that the U.S.-Iran peace deal “is already bearing real fruits for the American people,” citing the drop in gas prices to below $4 a gallon following President Donald Trump’s signing of the agreement.
During a press briefing, VP Vance spoke about the recent Memorandum of Understanding (MOU) between the U.S., Iran, and both nations’ allies, addressing how the deal benefits the U.S. economically and militarily.
Gas Prices Have Dropped
“Last night [June 17, 2026], 12.5 million barrels of oil went through the Strait of Hormuz … oil prices are down nearly at their level from the pre-war conflict, gas prices dropped below $4 a gallon … and importantly they’re going to keep falling further given how low oil prices are,” Vance said.
Iran's Keeping Up Its End Of The Bargain
Vance assured Iran is honoring its side of the MOU, stating that the Islamic Republic has not fired at any vessels traversing the Strait of Hormuz since the signing of the deal.
The Vice President also confirmed that U.S. Central Command (CENTCOM) has allowed more than a dozen ships to pass through its Naval Blockade.
VP Vance additionally affirmed that Iran’s nuclear program, capacity for uranium enrichment, the facilities for such enrichment and development of a nuclear weapon, and conventional military have all been destroyed.
Vance Addresses "Misrepresented Parts" of The Deal
The Vice President addressed the “most misrepresented” part of the MOU, including the alleged $300 billion "rehabilitation and economic development fund."
“The simple fact is, 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.” VP Vance stated. “And so, you really have a win-win situation for the United States of America.”
