The fate of the Strait of Hormuz, hundreds of pounds of enriched uranium and billions in frozen assets were some of the sticking points preventing an agreement between the U.S. and Iran, according to a new report.
The New York Times detailed that Iran refused to open the key waterway, through which about 20% of the global energy passes, before a final peace deal is reached, in contrast with Washington's demands that it happens immediately.
The U.S., in turn, refused to release some $27 billion in frozen revenue held abroad, which Tehran is seeking to fund reconstruction efforts after six weeks of war. The two sides also failed to reach an agreement about what should be done with some 900 pounds of enriched uranium in Iran.
Before departing Pakistan, Vice President JD Vance said the U.S. delegation "made very clear what our red lines are, what things we're willing to accommodate them on, and what things we're not willing to accommodate them on, and we've made that as clear as we possibly could, and may have chosen not to accept our terms."
He went on to detail that the U.S. needs a more firm commitment from the Tehran regime about not developing a nuclear weapon to move towards an agreement.
"The simple question is, do we see a fundamental commitment of will for the Iranians not to develop a nuclear weapon, not just now, not just two years from now, but for the long term? We haven't seen that yet. We hope that we will," Vance said. He also claimed the delegation left negotiators and the Iranian delegation with an "understanding that is our final and best offer."
"We leave here with a very simple proposal, a method of understanding that is our final and best offer. We'll see if the Iranians accept it," he added.
However, Iran's foreign ministry spokesman, Esmaeil Baqaei, told state media that negotiations could continue. "Naturally, we should have never expected to reach a deal in one session. We will continue to work to bring the two views of Americans and Iranians closer together," he said.
