Photo: EPA
Failure to reach a deal between the United States and Iran is likely to trigger fresh turbulence in global oil and gas markets.
Talks in Islamabad ended without an agreement, as JD Vance said Tehran refused to commit to never pursuing nuclear weapons, according to Bloomberg.
Iranian media also confirmed the breakdown, with Fars News Agency reporting no new round of negotiations is currently planned.
Vance described the 21-hour talks as “substantive” but ultimately unsuccessful, warning that the outcome is “much worse news for Iran” than for the US. He added that discussions also covered frozen Iranian assets and other issues, but no meaningful progress was made.
The US delegation remained in contact with Donald Trump, as well as senior officials including Marco Rubio and Pete Hegseth.
The negotiations, held after a fragile two-week ceasefire, were complicated by tensions in Strait of Hormuz and ongoing clashes between Hezbollah and Israel.
Analysts warn the failed talks could intensify volatility in energy markets, especially given disruptions to one of the world’s most critical oil transit routes.
