Washington DC [US], June 18 (ANI): US Vice President JD Vance on Thursday (local time) said that 12.5 million barrels of oil transited through the Strait of Hormuz overnight, marking the highest volume since the start of the Iran conflict, and credited President Donald Trump’s peace deal for easing tensions, stabilising energy markets and restoring maritime traffic in the region.
Briefing the members of the media, Vance said the administration’s peace plan with Iran was already delivering tangible benefits for Americans, pointing to falling oil and gas prices and improved security in one of the world’s most critical shipping lanes.
“The president’s peace plan in Iran is already bearing real fruits for the American people. Last night, 12.5 million barrels of oil went through the Strait of Hormuz, which is a high since the beginning of the conflict," Vance said.
He added that oil prices had nearly returned to pre-conflict levels, while gasoline prices had dropped below USD 4 per gallon for the first time since the conflict began. He said," Oil prices are down nearly to their level from the pre-war conflict, gas prices dropped below USD 4 a gallon today for the first time since the conflict, and importantly, they’re going to keep falling further given how low oil prices are."
On the security front, Vance said Iran had refrained from targeting vessels in the Strait of Hormuz for a second consecutive night, indicating compliance with the initial phase of 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 honouring their end of the commitment," he said.
Vance also noted that the US military had facilitated maritime movement through the region, saying the US Central Command (CENTCOM) had allowed more than a dozen vessels to pass through a naval blockade, reflecting Washington’s adherence to its commitments under the arrangement. He said, “And on the blockade, CENTCOM has allowed north of a dozen ships to go through our naval blockade, and so we’re also honouring our end of the early part of the agreement."
Highlighting the impact of recent US military operations, Vance asserted that Iran’s nuclear programme and conventional military capabilities had been severely degraded.
“Their nuclear program has been destroyed. Their enrichment capacity, the facilities that they were using to develop enrichment and develop a potential nuclear weapon, those facilities are still destroyed," he said.
He further claimed that Iran’s conventional military capacity and ability to threaten neighbouring countries had been “largely gone," adding that the next phase depended on whether Tehran would fully comply with the broader peace framework proposed by President Trump.
Addressing criticism of the memorandum of understanding (MoU), Vance rejected suggestions that Iran would receive large financial benefits without conditions. He stressed that no US funds would be transferred and that any economic relief would depend entirely on Iranian compliance and behavioural changes.
“The only way that they would ever get any benefit of the bargain–not a single penny by the way from the United States of America under any circumstances–is if they comply fully and change their behaviour," Vance said.
He argued that the agreement represented a “win-win" outcome for Washington, saying that if Iran failed to comply, its military and nuclear capabilities would remain crippled, while compliance could open the door to a transformed relationship between Iran and the broader West Asia.
“If they do change their behaviour, then they are going to have a transformative relationship with the Middle East and the Middle East will have a transformative relationship with the people of Iran. That’s a win for the American people and for the president of the United States, regardless of which option the Iranians ultimately choose. We obviously want them to choose the right option," Vance said.
He further said, “They would have to get a lot of money to rebuild the nuclear program…We have them in an economic chokehold right now that we are not going to release until they fundamentally change their behaviour."
He added, “As the MoU contemplates, that would mean the destruction of their enriched stockpile… Their economy is in absolute dire straits. But for them to get any integration into the world economy, they’re going to have to show us and verify for us that they are changing their behaviour." (ANI)
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