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Vance Says US Will Use Iran MoU To Replenish Global Oil Supply Then ‘See Where the Hand Is’

Vance said the administration could refill global oil stocks through an Iran memorandum while keeping open the option of further military action.

  • On Tuesday, Vice President Vance said the Trump administration is using the Memorandum with Iran to "refill" global oil supplies while keeping military options open to "see where the hand is."
  • The administration maintains two strategies: pursuing a long-term deal requiring behavioral changes, or "banking our wins" if Iran fails to meet verifiable milestones, Vance added.
  • Summarizing the position, Knowles said the message to Iran involves "replenishing the oil coffers" with 60 days before potential military consequences; Vance did not dispute this characterization.
  • Despite United States envoy Steve Witkoff and Jared Kushner arriving in Qatar this week, reports suggest no scheduled high-level meetings between Washington and Tehran, Qatari Foreign Ministry spokesman Majed Al-Ansari confirmed.
  • Trita Parsi of the Quincy Institute noted Vance's comments heightened suspicion in Iran that war could restart, with consensus views suggesting potential Israeli attacks before October elections.
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JD Vance sees the US in a strong position before Iran negotiations. However, experts warn that failure could trigger new conflicts.

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Fox News broke the news in New York, United States on Wednesday, July 1, 2026.
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