U.S.-Iran Deal Announced, Focuses on Strait of Hormuz Reopening and Conditional Sanctions Relief

The U.S.-Iran deal was announced Sunday and centers on reopening the Strait of Hormuz, with Vice President JD Vance stating the full text will be released this week and that Iran receives no funds without performing obligations. Vance described the financial elements as sanctions relief and disputed Iranian claims of a $24 billion upfront release. Lower-quality reports link the agreement to prior U.S.-Israeli strikes that began in late February.