Trump may release US-Iran agreement before Friday, Vance says

U.S. Vice President JD Vance said Monday that President Donald Trump may release Washington's agreement with Tehran before Friday, ahead of a planned in-person signing ceremony.

The agreement was electronically signed by leaders from both countries and is expected to be formally signed in person later this week. U.S. officials added that ships would move toll-free through the Strait of Hormuz under the deal.

What is the US-Iran agreement and what does it include?

The US-Iran agreement is a memorandum of understanding, roughly a page and a half long, electronically signed Sunday by Trump, Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf. It is a brief, general document that launches a 60-day negotiation period. Key issues, including Iran's nuclear program, toll-free Hormuz shipping and sanctions relief, are to be addressed in follow-on talks.

When will the US-Iran agreement be made public?

Trump, attending the G7 Summit, said the text would likely be released after Friday's signing ceremony. However, U.S. officials told reporters the agreement could be made public within the next 24 to 48 hours. Vance told Fox News that Trump could decide to release it ahead of schedule, without waiting for the in-person ceremony in Geneva.

Trump wanted to sign the agreement personally to demonstrate his commitment to the process, according to one U.S. official who spoke on condition of anonymity. Vance is set to lead technical talks this week and attend the signing ceremony. The signing will open a 60-day window for Washington and Tehran to negotiate a broader peace accord.

Will the Strait of Hormuz reopen under the Iran deal?

Vance told CNBC there was an understanding with Iran that the strait would reopen on a toll-free basis for the long term, with details to be finalized during technical negotiations. Trump said the waterway would be "completely open" from Friday, though demining operations were still underway. A U.S. official said shipping traffic should return to prewar levels within the next couple of weeks, with vessel movements already rising substantially.

Iran's Foreign Ministry offered a different characterization, saying the agreement would allow Iran to charge maritime service fees on ships transiting the strait rather than imposing tolls. That discrepancy is among the key questions that remain unresolved. Nuclear discussions are expected to be an immediate priority once technical talks begin.

What economic benefits will Iran receive under the agreement?

U.S. officials said no frozen Iranian assets had been released by the United States or any other country as of Monday. Discussions have included the possible release of frozen funds, sanctions relief and a potential $300 billion reconstruction fund, but any benefits would be tied to Iran's performance under the agreement. Vance told Fox News that no U.S. taxpayer money would go to Iran under the deal.

Economic benefits, he said, could come through sanctions relief and Iran's reintegration into the international economy. A key provision of the MoU would allow inspectors from the United States and the International Atomic Energy Agency to enter Iran and help destroy its highly enriched uranium stockpile, Vance told NBC. Questions over frozen funds and sanctions relief remain open pending further negotiations.