Ed O’Keefe, CBS News’ senior White House and political correspondent, spoke with Vice President JD Vance on Monday morning and pushed him on whether or not Iran’s claim that it will have access to $300 billion for reconstruction from the Trump administration’s peace deal is accurate.

“Walk through some of this. The Iranians are saying that they’re gonna have access to a $300 billion reconstruction fund, true or false?” O’Keefe began.

“Well, Ed, that’s the sort of thing they could have access to, funded by the Gulf coast coalition, so long as they honor their end of the obligation. I think that one of the things you’re going to see, Ed—and people have to be skeptical of this—is that the hardliners in the Iranian system will overemphasize the benefits that Iran gets, while underemphasizing all the things that they have to concede and all the things they have to provide in order to get these benefits,” Vance replied, adding:

So we absolutely are open to the Gulf coast countries investing in the reconstruction of Iran, but only if Iran ends their nuclear program, ends their enriched stockpile of material, and is really open to an inspections and enforcement regime that gives the American people confidence they’re never gonna have a nuclear weapon. So I think the dance you’re gonna see, Ed, which is gonna be interesting, is the Iranian media, especially the hardline media, they’re gonna talk a lot about what they get without talking about what they give. It’s important for all of us to correct that record.

Vance was later on CNBC, where he was also pressed on a key sticking point in the negotiations, whether or not Iran will be able to put a toll on commercial vessels sailing through the Strait of Hormuz.

Anchor Becky Quick asked Vance, “For now, they are saying that they will reopen the strait. The United States is saying it will take down its blockade at the same time, that there will be free passage, that no one will have to pay anything to go back and forth through this. The Iranians, I think, have suggested that this is just for the next 60 days. Do you get the sense that this is a more permanent situation, where the straits will be reopened even beyond that 60-day period?”

“Well, our expectation is that the strait is gonna be opened in a toll-free way for the long term, and that’s the sort of thing that we’re gonna figure out in these technical negotiations. You know that there are a lot of very important details to figure out, that we’re actually gonna sit at the table and discuss together and figure out a path forward on these details,” Vance replied, making clear the status of the Strait of Hormuz was still being finalized.

Watch the clip above via CBS News.

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