FLASH
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They talked for 21 hours. The highest-level meeting between the US and Iran since its revolutionary government came to power in the 1970s.
But in the end it wasn't enough. The Americans were the first to put out their version of events before boarding the plane and heading home.
The Iranians would not give up their ambition to build the bomb and their search for the means to do so, said US Vice President JD Vance.
The Iranians say the Americans demanded that they hand over enriched uranium, but also refused to acknowledge their sovereignty over the Strait of Hormuz.
If the Americans really backed down on the nuclear issue, they came here with a naive assumption that the Iranians would surrender on the first day of talks.
The last time the West and Iran reached an agreement on the nuclear issue, it took almost two years of negotiations.
In reality, we know that the main issue on the table was the straitjacket and the control it has given the Iranians over the global economy.
"The US tried to achieve at the negotiating table what it could not achieve through war," they said in their departure statement.
This is a stark reminder that America has failed to achieve its goals through military force.
In Middle Eastern market terms, this is the moment when the buyer walks out of the store saying the price is too high. Only in this case, both parties think they are the seller and in a position to dictate the terms.
Iran is unlikely to chase the Americans at a lower price if they think they have the upper hand. This assumption will now be tested.
What happens next?
We are still in a ceasefire period, which is supposed to last two weeks.
Diplomacy will continue through third-party intermediaries and covert channels. If it cannot make more progress than this historic diplomatic meeting in Islamabad, a return to war seems likely.
The US and Iran gave different reasons for the failure of the peace talks.
How was the failure of the negotiations justified?
According to Iranian state media, "unreasonable demands" from the US hindered talks to end the war.
"Despite various initiatives by the Iranian delegation, the unreasonable demands of the American side hindered the progress of the negotiations. Thus, the negotiations ended," Iranian state broadcaster IRIB said in a post on Telegram.
Meanwhile, the US expressed itself as being "flexible" and "accommodating".
Vance said US President Donald Trump told him to “come here in good faith and do his best to make a deal. We did that, and unfortunately, we were not able to make any progress.” He says he is leaving after making “a very simple proposal, a compromise that is our final and best offer.”
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