The two sides have signed the deal virtually but no text of the agreement has been made public. Vice President JD Vance told NBC News it won’t be released until Friday.
Energy prices broadly tumbled and global stocks rose Monday — but only moderately — after the U.S. and Iran said they had reached an agreement to end fighting and reopen the Strait of Hormuz.
The price of U.S. crude oil closed down 4.8% to $80.75 per barrel, while international Brent crude closed down 4.7% to $83.17 per barrel. For both benchmarks, those closing prices were their lowest since the first week of March, just days after the war with Iran was launched.
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Vice President JD Vance said that nuclear inspectors will be allowed back into Iran as part of a deal with the U.S. to end the monthslong war in the Middle East.
“Yes, absolutely,” Vance told NBC News’ Tom Llamas in an interview. “In fact, one of the core parts of the agreement is that the [International Atomic Energy Agency] and the United States are going to help Iran destroy the highly enriched stockpile, and that’s something that’s spelled out very clearly” in the memorandum of understanding, or MOU, he added.
The text of the MOU — a framework to end the war that was agreed to by both countries — will be released after a formal signing ceremony Friday in Switzerland, Vance said, confirming a timeline shared by President Trump.
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Trump will be meeting with allies who are at odds with him over a pair of wars: one they don’t believe he should have started, and another they want him to do more to stop.
The president will spend two days at the Group of Seven meeting of leading industrialized nations in the resort town of Evian-les-Bains, in which both the Iran war and the Russia-Ukraine conflict figure to loom large.
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NBC News
