US VP JD Vance warns Iran not to ‘lie or cheat’ as fragile truce holds

Speaking at a press conference in Budapest on Tuesday, US Vice President JD Vance announced that Iran has agreed to open the Strait of Hormuz as part of a fragile truce, stating that President Trump issued an ultimatum: "open up the straits, stop trying to hold the world's economy hostage, and we'll engage in a ceasefire." The ceasefire agreement, reached just hours before Trump's deadline, includes the US and its allies halting attacks in exchange for Iran reopening the strategic waterway. Vance declared that the US has "largely accomplished its military objectives" and that the war "will conclude very shortly," adding that Trump told him "the Iranians are better negotiators than they are fighters." He noted that while Iran's foreign minister has responded favourably to the US terms, some within the Iranian system are "lying about the nature of the agreement" on social media. Vance warned that if Iran fails to negotiate in good faith, the US retains "extraordinary economic leverage" and other "tools in our toolkit" that have not yet been used. He expressed cautious optimism, stating that if both sides work in good faith, a deal can be reached.

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