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

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.

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.

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)

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