During a visit to Hungary, US Vice President JD Vance warned Iran that President Donald Trump is serious about negotiations for a long-term ceasefire deal. Vance stated that the temporary truce offers a narrow window for diplomacy, but its success relies on Iran negotiating in good faith. He highlighted that Trump has instructed his negotiating team to pursue talks earnestly, emphasizing that failure to engage could lead to significant consequences. The ceasefire, which has held thus far, is described as fragile, with concerns that some Iranian officials are not cooperating. The negotiations, mediated by Pakistan, focus on the Strait of Hormuz, where Iran has agreed to a temporary reopening, positively impacting global oil prices. However, major sticking points remain, including sanctions and Iran's nuclear ambitions.