US Vice President JD Vance has expanded on the reported $300 billion reconstruction fund for Iran that was in the memorandum of understanding.

“The simple fact is that the only way the Iranians get those resources — not a single penny from the United States of America under any circumstances — but the only way that they would ever get any benefit of the bargain is if they comply fully and change their behaviour,” he tells reporters at the White House.

“You really have a win-win situation for the United States of America: if the Iranians don’t change their behaviour, their military and nuclear programme is still destroyed. If they do change their behaviour, then they are going to have a transformative relationship with the Middle East and the Middle East will have a transformative relationship with the people of Iran,” he adds.

Vance says this is a “win” for the US regardless of which course of action Tehran takes.