Pakistan's Prime Minister Shehbaz Sharif meets with Iranian Parliament Speaker Mohammad Bagher Ghalibaf and delegates/Screengrab/BBC

US Vice-President JD Vance briefed reporters after the historic peace talks, but he said the US has made its "red lines" clear, but Iran "has not agreed to our terms".

Vance said that the US and Iran failed to reach an agreement following lengthy peace talks in Pakistan.

The delegations met in Islamabad, Pakistan during a temporary ceasefire.

Vance said the US "could not get to a situation where the Iranians were willing to accept our terms". Halting Iran's nuclear capabilities had been a "core goal" that wasn't reached.

Iran's foreign ministry says the talks were "intensive", and called on Washington to refrain from "excessive demands and unlawful requests".

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"We just could not get to a situation where the Iranians would accept our terms," he adds.

JD Vance said "we have been at it now for 21 hours" but adds, "the bad news is that we have not reached an agreement". He said the US is now planning to leave Pakistan.

Standing behind Vance at the news conference were Trump’s son-in-law and White House advisor Jared Kushner and US Special Envoy to the Middle East Steve Witkoff, who made up the US delegation negotiating with Iran.

Vance shared his appreciation to the prime minister of Pakistan and Field Marshal Munir.

"Whatever shortcomings of the negotiation, it wasn't because of the Pakistanis who did an amazing job."

The US and Iran are offering different reasons for the failure of the peace talks.

According to Iranian state media, "unreasonable demands" from the US frustrated talks to end the war.

"Despite various initiatives from the Iranian delegation, the unreasonable demands of the American side prevented the progress of the negotiations. Thus the negotiations ended," Iranian state broadcaster IRIB said in a post on Telegram.

Meanwhile, the US says they were "flexible" and "accommodating".

Vance said US President Donald Trump told him to "come here in good faith and make your best effort to get a deal. We did that, and unfortunately, we weren't able to make any headway". He says he was leaving after making "very simple proposal, a method of understanding that is our final and best offer".

It's unclear what the next steps are in the two-week ceasefire deal or whether more talks are planned.