US Vice President JD Vance said he hopes the text of the agreement to stop the war in Iran will be released this week. Vance also stated that they expect the Strait of Hormuz to remain open in the long term without transit fees.
In an interview with CNBC, Vance said the details will be clarified in technical talks. The US administration maintains the expectation that the strait will remain permanently open.
Framework of the Agreement
The US and Iran announced that they have agreed on conditions to end the war and reopen the Strait of Hormuz. This development has eased tensions in energy markets.
However, the agreement still remains a framework. It was noted that some details in the text may be linked to the end of conflicts in Lebanon, and that talks on Tehran’s nuclear program have been postponed to a later date.
Speaking to Reuters, Vance said there are many important details to be resolved in technical negotiations. He emphasized that the implementation aspects of the agreement will be shaped at this table.
Signing Ceremony Planned in Switzerland
Vance said that Iran’s foreign minister and the speaker of the parliament will attend the signing ceremony scheduled for Friday in Switzerland. He did not provide information on who will represent the US at the signing.
Vance’s remarks stood out as one of the concrete steps toward reducing the tension that has affected the global energy and security agenda for weeks. If the final text of the agreement is announced, the most critical hurdle for the parties will be completing the technical details.