Key insights
- JD Vance reports Trump's eagerness for an Iran deal and a fragile truce brokered by Pakistan. A two-week ceasefire is in place after a six-week war disrupted energy supplies. Successful negotiations could stabilize oil prices and reduce geopolitical risk, providing a modest boost to US equities. Failure could lead to renewed conflict and higher energy prices, negatively impacting markets.
By Humeyra Pamuk
BUDAPEST, April 8 (Reuters) - U.S. President Donald Trump is "impatient" about making progress toward ending the Iran war and has instructed his negotiating team to engage the Iranians in good faith, Vice President JD Vance said on Wednesday.
Speaking at an event in Budapest during his trip to Hungary, Vance said a deal was possible if Iran negotiated sincerely, but cautioned that while some parts of the Iranian system were approaching the talks constructively, others were not. He described the situation as a "fragile truce."
"The President of the United States has told me, and he's told the entire negotiating team, secretary of state, the special envoy Steve Witkoff, he said, go and work in good faith to come to an agreement," Vance said.
"He's impatient. He's impatient to make progress. He has told us to negotiate in good faith, and I think if they negotiate in good faith, we will be able to find a deal. But that's a big if, and ultimately, it's up to the Iranians how they negotiate. I hope they make the right decision," Vance said.
The United States and Iran have agreed to a two-week ceasefire brokered by Pakistan, potentially halting a six-week-old war that has killed thousands, spread across the Middle East and caused unprecedented disruption to the world's energy supplies.
Trump announced the agreement late on Tuesday, just two hours before a deadline he had set for Iran to open the blockaded Strait of Hormuz or face the destruction of its "whole civilisation".
(Reporting by Humeyra Pamuk; Editing by Sharon Singleton and Ros Russell)