Iran and the U.S. reportedly reached a partial understanding on several issues, but two or three major topics remain unresolved, according to Iran’s Foreign Ministry.

Talks in Islamabad broke down on April 12, 2026, with Pakistan continuing to serve as a mediator as negotiations proceed.

Former President Donald Trump was noted to be in contact with Vice President JD Vance and other administration officials during the discussions.

Vice President Vance said Iran declined to accept U.S. terms that would forgo development of a nuclear weapon.

The stalled talks are framed as a setback to reviving the nuclear deal and easing regional tensions, with potential ripple effects on global markets tied to Iran’s oil exports and stability.

Key participants cited include Vice President Vance, the Iranian Foreign Ministry, and the Pakistani Foreign Ministry, each outlining their positions as negotiations stalled.

The talks occurred within a broader context of an Iran-related war and a two-week ceasefire agreed on a recent date to enable negotiations.

Geopolitical developments surrounding US-Iran negotiations in Pakistan coincided with a drop in Bitcoin prices, which fell below $72,000.

The Pakistan-hosted talks in Islamabad concluded after 21 hours without a peace agreement.

Some topics, such as the Strait of Hormuz, were cited as having mutual understanding, while core nuclear weapons issues were not part of those understandings.

Iranian Foreign Ministry spokesman Esmaeil Baghaei pointed to a gap on two or three important issues as the reason for the breakdown, without naming them.

Pakistan’s Foreign Minister Ishaq Dar urged the sides to uphold the ceasefire and persist with mediation to facilitate dialogue.