Washington no longer needs a deal with Iran, US President Donald Trump has declared. He has directed Vice President J.D. Vance to focus instead on alleged corruption and crime in Democrat-run states and cities.
The announcement follows Vance’s criticism of the US-Israeli war on Iran, which he blamed for Republicans’ defeat in last week’s midterm elections. On Wednesday, the vice president questioned whether the conflict had been worth its cost. Vance had previously pursued diplomatic efforts to end the war and reportedly favored reaching an agreement with Tehran over continued military pressure.
In a Truth Social post on Thursday, Trump ordered Vance to devote his “complete and total attention” to tackling the domestic issue, arguing that a sweeping corruption crackdown could help balance the federal budget.
“We don’t need a deal with Iran. Those days have long since passed,” Trump wrote. “We’ve got their money, Hundreds of Billions of Dollars, and we’ve got their Strait!”
Trump offered no explanation for his claim about Iranian money, which some media outlets have interpreted as a reference to frozen Iranian assets. Tehran estimates the funds at more than $100 billion, largely consisting of oil and gas revenues held in foreign banks under US sanctions.
His assertion of control over the Strait of Hormuz appears to refer to the US naval blockade, which restricts shipping to and from Iranian ports while allowing vessels serving other Gulf countries to pass.
On Monday, Trump said he would hold off on further strikes against Iran after Gulf states urged Washington to avoid another escalation.
Iran, however, has also asserted its authority over the strategic waterway.
Iran’s parliament speaker and chief negotiator, Mohammad Bagher Ghalibaf, told Al Jazeera on Wednesday that Tehran had reached an understanding with Oman on managing the strait as part of its seven-point peace proposal.
Ghalibaf insisted that Hormuz would “never return” to its pre-war status, when foreign vessels could transit without Iranian permission. Tehran is now seeking greater control over shipping through the vital oil trade route.
The Iranian official said Tehran had submitted its peace terms through Qatari mediators but had yet to receive a formal response from Washington.
The proposal calls for lifting US sanctions and the naval blockade, releasing frozen Iranian assets and ending hostilities across the region.
“The ball is now in the American court,” Ghalibaf said.