Vance: Trump Seeks to Use Memorandum of Understanding to Re-supply Global Oil

Vice President JD Vance confirmed today, Tuesday, that President Donald Trump seeks to use the memorandum of understanding to re-supply the global economy with oil, with verifiable nuclear guarantees.

Vance said in press statements: "President Trump asked us to use the memorandum of understanding to re-supply the global economy with oil, then we will see how things develop," indicating that technical talks with Iran are based on previous negotiations.

Vance added that Washington has two options: either reach a long-term agreement with Iran contingent on changing its behavior, or cement current gains, noting that "a degree of uncertainty remains, and no one can be certain what the Iranians will do."

These statements come amid continued US-Iranian contacts after agreeing to halt military operations and resume negotiations, with Washington seeking to ensure stability of global energy markets and oil flow.

On its part, the Iraqi government has issued no official comment on these developments, despite their potential impact on local and regional oil markets.

Observers believe any change in Iran's energy policies could affect the Iraqi economy, especially given the federal budget's reliance on oil revenues.

Iraq relies on oil exports to finance more than 90% of its general budget, making it vulnerable to global market fluctuations and crude prices.