LIVE: Vice President JD Vance holds White House press briefing — 6/18/2026

Summary

Vice President JD Vance held a press briefing to detail the recent Iran peace deal. He highlighted the reopening of the Strait of Hormuz, a surge in oil shipments, and the resulting drop in oil and gasoline prices. He stressed that Iran must verifiably change its behavior to receive any economic benefits, and briefly signaled potential talks with Cuba.

• VP Vance announces over 12.5 million barrels of oil transited the Strait of Hormuz, the highest since the conflict began.
• Oil prices are back near pre-war levels, and national average gas prices fell below $4/gallon for the first time since the conflict.
• He expects oil and gasoline prices to keep declining as the straits remain open and the blockade is lifted.
• Iran's nuclear program and conventional military capacity are described as destroyed, with verification required for any sanctions relief.
• Any economic benefits to Iran, including future reconstruction funds, are strictly conditional on verifiable behavior changes.
• The deal receives support from Gulf Arab allies, who see Iran as weakened, contrasting with the 2015 nuclear deal.
• VP Vance suggests the U.S. is also engaging with Cuba on potential reforms, calling the current system a failure.