Vance Says US Using Iran Deal To 'Refill' Oil Market Before Next Move: 'See Where The Hand Is'

Published 1 July 2026 · india

Vance Says US Using Iran Deal To 'Refill' Oil Market Before Next Move: 'See Where The Hand Is' Published By, Last Updated: July 01, 2026

Vance Says US Using Iran Deal To 'Refill' Oil Market Before Next Move: 'See Where The Hand Is' Published By, Last Updated: July 01, 2026, 18:17 IST Vance noted Trump administration’s approach is to ease pressure on global energy markets while keeping diplomatic and military options open. File image of US Vice President JD Vance. (AFP photo) US Vice President JD Vance has said the Trump administration is using its memorandum with Iran to stabilise global energy supplies before deciding its next steps. Vance made the comments while speaking on The Michael Knowles Show, saying the administration’s approach is to ease pressure on global energy markets while keeping diplomatic and military options open. “So, I think what the president has told us to do is use this MOU to sort of refill the world’s oil economy, to refill some stocks, and then to see where the hand is," Vance said.

US Vice President JD Vance admits his and Trump’s Iran MOU is only a tactical operation to “refill the world’s oil economy" and “refill some stocks," not for peace, to then start the war again after the now 46 days are up. pic.twitter.com/7QcgomuUA6— The Hormuz Letter (@HormuzLetter) July 1, 2026 He said the agreement that followed the war with Iran is being used to rebuild oil supplies and stabilise prices, while Washington maintains leverage over Tehran. ALSO READ: ‘We Have Two Options’: Vance Says Trump Still Has Cards To Play If Iran Violates MoU Terms Vance said the US has “two options": a long-term deal requiring “a significant change in their behaviour," or “banking our wins" from the military campaign, and potentially taking further action if required. Both pathways, he said, remain “very much in play".

He added that the administration is allowing the situation to develop “in an environment where there is significantly less pressure on the world energy economy… while not giving up a single one of his gains and while preserving a lot of optionality". The remarks come as Washington and Tehran have begun indirect talks in Doha through mediators, aimed at advancing negotiations under their memorandum of understanding and easing tensions after recent exchanges of fire. Iran has maintained that it will not engage in direct talks with the US, even as both sides continue diplomatic contact via intermediaries. (With inputs from AFP) News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit About the Author News Desk The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad.