Key insights
- VP Vance indicates progress in US-Iran negotiations aimed at preventing Iran from developing nuclear weapons. While progress is noted, the ultimate success hinges on meeting President Trump's conditions. The market impact is slightly negative, reflecting increased geopolitical uncertainty if negotiations fail.
(corrects title of JD Vance to Vice President)
WASHINGTON, May 13 (Reuters) - U.S. Vice President JD Vance said on Wednesday he believes progress is being made in negotiations with Iran to end hostilities, after President Donald Trump rejected Tehran's latest proposal as unacceptable.
"I think that we are making progress. The fundamental question is do we make enough progress that we satisfy the President's red line?" Vance told reporters at the White House. "And the red line is very simple. He needs to feel confident that we put a number of protections in place such that Iran will never have a nuclear weapon."
(Reporting by Nandita Bose and Doina Chiacu; Editing by Franklin Paul)