Vance: US Maintains Iran Sanctions Except Oil Restrictions Until Tehran Complies

US Vice President JD Vance announced at a White House press conference on June 18 that the United States will maintain sanctions against Iran with the exception of restrictions on oil exports. Vance stated that no Iranian frozen assets will be released until Tehran fulfills its obligations under an agreement, emphasizing the stringent conditions Washington has imposed.

The frozen Iranian assets abroad could total between $100 billion and $200 billion, according to Vance's remarks. He noted that most of these funds are held outside United States accounts, with holdings in the Gulf region, Europe, and elsewhere. "We're not releasing a single dollar of that money until the Iranians perform," Vance declared, indicating multiple pathways through which Iran could demonstrate compliance.

Vance explained that oil export sanctions are no longer in effect because they had become ineffective in achieving their stated purpose of reducing Iranian oil prices. All other sanctions remain in force pending Iranian compliance with the agreement terms. The vice president made clear that if Iran fails to meet its obligations, all concessions could be rescinded and every sanction would be reinstated. "No sanctions will come off unless they perform the benefit of the bargain, and every sanction will come back on," he stated, underscoring the administration's conditional approach to Iran policy.