After approximately 40 days of conflict, Iran and the United States held a round of direct talks in Islamabad, the capital of Pakistan, from April 11 to 12, 2026. This was the longest meeting in recent years, lasting approximately 21 to 25 hours and involving multiple rounds of talks between key delegations, expert group discussions, and text exchanges. Pakistan played a significant mediating role, with both delegations holding closed-door consultations at locations such as the Serena Hotel. During this period, the US negotiating team maintained close communication with US President Trump and his national security team, conducting at least several phone calls.

The negotiations unfolded in an atmosphere of distrust and mutual suspicion. From the outset, Iran made it clear that a comprehensive agreement should not be expected from a single meeting. This round of talks added topics such as safe passage through the Strait of Hormuz, regional stability, and nuclear-related issues, with the core differences concentrated on key problems. An Iranian Foreign Ministry spokesperson pointed out that while the two sides reached consensus on some issues, their positions remained irreconcilable on two or three crucial points, ultimately resulting in the failure to sign any agreement.

The US position: Proposing a "final and best solution," emphasizing that the red line cannot be crossed.

At a press conference in Islamabad, U.S. Vice President Vance stated that the U.S. has demonstrated considerable flexibility and sincerity, clearly outlining its "red lines," including core conditions such as Iran not seeking to develop nuclear weapons and the Strait of Hormuz remaining unobstructed. The U.S. has left a concise agreement as its final offer, awaiting Iran's response. Vance noted that the U.S. team maintained real-time communication with President Trump, Secretary of State Rubio, Secretary of Defense Hergese, and other officials during the negotiations, and thanked Pakistan for its efforts in facilitating the ceasefire.

Vance emphasized that the failure to reach an agreement would have a greater impact on Iran than on the United States, and stated that the US would continue to adhere to the current fragile ceasefire commitment, but if Iran does not accept its conditions, further uncertainty will increase. Trump had previously made a tough statement, pointing out that Iran is at a military disadvantage and stating that he would continue to monitor the situation. The US Central Command also announced at the same time that the US military had initiated mine-clearing operations in the Strait of Hormuz to ensure the safety of passage through the strait.

Iran responded by accusing the US of ambition and greed, while emphasizing its own reasonable suggestions.

Iran has offered differing interpretations of the negotiation results. A spokesperson for the Iranian Foreign Ministry stated that the negotiations were conducted in an atmosphere of high distrust, and that the US's "excessive ambitions" hindered the achievement of a common framework in each round of talks. Iranian media outlets, including Tasnim News Agency, cited sources close to the delegation as saying that the US attempted to salvage its international image through negotiations but was unwilling to lower its excessive demands, making exorbitant requests on core issues. Iran put forward several reasonable suggestions, believing that "the ball is now in the US's court" and that the US should take a pragmatic approach to the issues.

Iran emphasized that the situation in the Strait of Hormuz will not change as long as the United States refuses to reach a reasonable agreement, and Iran is not in a hurry to move on to the next round of negotiations. A source within the delegation indicated that the US appears to be looking for an excuse to withdraw from the talks, and that Iran currently has no plans to hold another round of talks. The Iranian Foreign Ministry also reiterated that it will continue to maintain close contact and consultation with Pakistan and other regional partners to safeguard its national interests.

Pakistan's role: Continuing to drive the peace process and calling on all parties to uphold their commitments.

Pakistani Deputy Prime Minister and Foreign Minister Dar stated at a press conference that, with Pakistan's mediation, several rounds of negotiations have been held between the two sides, and the two sides will continue to firmly advance the US-Iran peace dialogue. He thanked the US and Iran for recognizing Pakistan's efforts to facilitate a ceasefire and emphasized that all parties must continue to uphold their ceasefire commitments to prevent further deterioration of the regional situation. Pakistani leaders have met with delegations from both sides on multiple occasions, providing necessary support for the negotiation arrangements.

Subsequent impacts: Core disagreements remain unresolved, and regional and global risks persist.

Following the conclusion of the negotiations, the US delegation and Vice President Vance have left Pakistan, and the Iranian delegation will also depart Islamabad on April 12. The time, location, and specific plans for the next round of negotiations have not yet been determined. Disagreements between the two sides remain prominent on key issues such as control of the Strait of Hormuz and nuclear rights, which directly affect the stability of the global energy market and the security of the Middle East.

Meanwhile, two shootings occurred within the United States: a mass shooting took place along the Virginia Beach waterfront in Virginia, prompting a large police response; and a shooting also occurred at a fast-food restaurant in Union City, New Jersey, leaving multiple people wounded. While these incidents are not directly related to international negotiations, they reflect the tense atmosphere within American society.

In addition, Reserve Bank of New Zealand Governor Anna Brehman announced that the government will increase the transparency of monetary policy decisions, possibly making voting results public, and will increase the frequency of interest rate decisions from 2027 onwards. This shows that central banks around the world are strengthening policy communication during turbulent times.

Overall Outlook: Diplomatic efforts continue, but uncertainties remain.

While the recent Islamabad talks between the US and Iran failed to achieve a breakthrough, neither side completely closed the door to dialogue. The mediation efforts of Pakistan and other regional powers highlight the importance of multilateral diplomacy. The future trajectory of the Middle East remains uncertain; the security of navigation in the Strait of Hormuz, the sustainability of the ceasefire agreement, and broader regional stability issues will continue to test the political wisdom of all parties. The international community is closely monitoring developments and hopes to resolve differences through pragmatic dialogue, preventing a resurgence of conflict from having a greater impact on global energy, the economy, and security.