U.S. Vice President JD Vance indicated on Monday that he anticipates the text of an agreement to cease hostilities in Iran and ensure the passage through the Strait of Hormuz will be published this week, as technical negotiations are scheduled to continue.
Speaking in an interview with CNBC, Vance stated the United States' expectation that the economically critical waterway will be accessible indefinitely without any levied tolls. "Our expectation is that the Strait is going to be opened in a toll-free way for the long-term," he remarked.
He elaborated on the ongoing discussions, noting, "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 U.S. and Iran have previously announced their agreement on terms intended to conclude their conflict and reopen the strait. This development has provided a measure of relief to global markets, although the accord's implementation may be contingent on a cessation of hostilities in Lebanon and defers discussions concerning Tehran's nuclear program.
While still considered a framework, the agreement represents a significant advancement toward resolving the conflict, which commenced with joint U.S.-Israeli strikes on Iran in February and has since resulted in thousands of casualties and substantial disruption to energy markets.
Vice President Vance further stated that Iran's Foreign Minister and House Speaker are designated to represent Iran at the signing ceremony scheduled for Friday in Switzerland. He indicated that numerous details of the agreement remain to be finalized but did not specify who would represent the United States.
