Vice President Vance: Trump is eager to make progress with Iran, and Iran has agreed to open the Strait of Hormuz.

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U.S. Vice President Vance said on Wednesday that Iran has agreed to open the Strait of Hormuz.

Vance said that the situation in Iran is developing well, reiterating that “the United States has achieved its military objectives in Iran.”

Trump had asked him to work toward a deal based on good faith, and that serious consequences would follow if Iran lies or cheats.

The U.S. has “very strong economic leverage” over Iran.

Trump is urgently hoping to make progress with Iran.

At the time of Vance’s remarks, international oil prices barely reacted, with U.S. oil down nearly 16% intraday.

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