Vice President JD Vance left Islamabad empty-handed after 21 hours of nuclear negotiations with Iran, marking another failure in the Trump administration's efforts to curtail Tehran's nuclear program. The talks, which followed 38 days of U.S. military strikes on Iranian targets, ended without agreement on key issues including Iran's uranium stockpiles and the future of its enrichment capabilities.

The breakdown leaves the administration facing difficult choices: resume military operations when the fragile cease-fire expires April 21, or engage in lengthy negotiations that could extend the conflict. Trump had bet that massive airstrikes would force Iranian capitulation, but Tehran showed no willingness to surrender its nuclear infrastructure permanently. The administration rejected Iran's offer to merely suspend operations for several years.

With global oil supplies still disrupted and gasoline prices rising, Trump's political room for maneuver is limited. Markets reacted positively to the cease-fire prospect but would likely decline if fighting resumes. The control of the Strait of Hormuz has emerged as a central issue, with Iran linking waterway access to war reparations and sanctions relief. Both sides claim victory from the initial conflict, suggesting neither is prepared for meaningful compromise in the near term.