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Vice President JD Vance said the proposed US-Iran deal would bring a “new day” to the Middle East, while discussing whether US taxpayer money would be used to fund Iran’s $300 billion reconstruction fund in an interview Monday on “Hannity.”
Vance told Fox News host Sean Hannity that Iran could have access to a multi-billion dollar fund if the country fulfills the obligations outlined in its agreement with the United States.
“The agreement is that they don’t get a penny of American money,” he said.
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“What the deal means, Sean, is if the Iranian people behave and if there is a relaxation of discipline and if the Iranians are integrated into the world economy, we will invite other countries, not us, but other countries to invest in their country.”
Vice President JD Vance during a dinner in the East Room of the White House in Washington, DC, US, Thursday, Nov. 6, 2025. (Aaron Schwartz/Bloomberg via Getty Images)
US and Iranian officials reached an agreement to reopen the Strait of Hormuz, stop fighting and deal with Tehran’s nuclear weapons program. The agreement, known as a memorandum of understanding, is expected to be signed on Friday in Switzerland.
A proposed $300 billion fund being considered by the Trump administration for Iran would be funded by private companies looking to invest in the country, not American taxpayers.
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Although the full terms of the US-Iran peace deal have not been released, Vance emphasized that the agreement is based on performance and said that Iran will access the reconstruction fund only if it complies with the terms of the agreement.
“The Iranians are not getting a dime unless they behave and change their behavior,” he said on “Hannity.”
“If they show a convincing commitment, and that means a real test plan, then they can get transactional benefits.”
Iran’s Deputy Foreign Minister Kazem Gharibabadi said, according to Tasnim News Agency, “This memorandum does not mean trusting the enemy; it is written out of confidence.”
A woman is seen holding an Iranian flag during a religious ceremony during Eid al-Adha on May 26, 2026, in Qom, Iran. (Majid Saeedi/Getty Images)
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The vice president stressed that Iran has a “real opportunity” to change the country’s strained relations with the United States, saying action will be rewarded instead of words.
“I think they realize there’s a real opportunity here to turn a new page as long as they do the right thing,” Vance said.
“If the Iranian people are willing to change their ways. If they are willing to behave like a normal country, stop trying to build a nuclear weapon, stop trying to finance terrorism throughout the Middle East, then we are truly willing to change our relationship with them.”
The vice president, who said the deal “absolutely” covers a denuclearized Iran, talked about how the administration plans to deplete the country’s stockpile of enriched uranium.
FILE – This satellite image from Planet Labs PBC shows the Natanz nuclear site in Iran on May 20, 2025. (Planet Labs PBC via AP, File)
“What we’re going to do, Sean, is destroy the highly enriched material, the nuclear dust, and we’re going to do it with the Iranian people,” he told “Hannity.”
“[Trump] he wants us to work with the Iranians, and international organizations to destroy that pile of riches. “
Supreme Leader Mojtaba Khamenei took a direct role in shaping Iran’s memorandum of understanding (MOU) with the US, according to Iranian President Masoud Pezeshkian.
Vance, who has played a leading role in the peace talks, said some Iranian hardliners have begun to question decades of hostility toward the United States.
“He talks about hardliners and moderates. What makes me happy about their program is that we see even people who I would have thought were hardliners who say, ‘Maybe it was a mistake for us to do the things we did 40 years ago. Maybe we should turn a new page in the relationship with the United States of America,'” he said.
In this photo obtained by Iran’s ISNA news agency, Mojtaba Khamenei (C), son of Iran’s supreme leader Ayatollah Ali Khamenei, walks down a street in Tehran on May 31, 2019. (Hamid FOROUTAN / ISNA / AFP via Getty Images)
“We have never had this level of direct contact with the Iranian leadership.”
Vance said that if Iran fails to keep its commitments, the relationship between the two countries will return to its previous state.
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“The reason our Arab partners, our Gulf partners, are very happy about this is because they think this is a new day in the Middle East,” he told Fox News. “But again, if not, then not. If the Iranians don’t comply, then we will go back to the same relationship we had before, where we have all the cards.”
“We have the cards, and if they don’t honor the commitment, we’ll find out what we have to do when we get there.”
