Key TakeawaysJD Vance is expected to lead U.S. efforts in potential Iran peace talks.Vance has engaged in calls with Benjamin Netanyahu and indirect communication with Iran.His “anti-war” stance may position him as a more acceptable negotiator to Tehran.Ongoing conflict and uncertainty continue to weigh on global markets and risk sentiment.U.S. Vice President JD Vance is expected to take a leading role in potential peace negotiations with Iran, marking a significant shift in diplomatic efforts as the conflict enters a prolonged phase.According to reports, Vance has held multiple discussions with Israeli Prime Minister Benjamin Netanyahu and has been involved in indirect communications with Iranian officials. He is now positioned to act as the chief U.S. negotiator should formal talks begin.Sources indicate that Vance was skeptical of early projections about the conflict’s trajectory and expects hostilities to continue for several more weeks. His stance contrasts with earlier expectations of a shorter engagement.White House officials cited Vance’s senior role and his consistent opposition to prolonged overseas conflicts as factors that could make him a more credible interlocutor for Iran. Previous negotiation efforts led by other U.S. figures had failed to produce a resolution.Reports also suggest internal tensions, with some concerns that Vance’s approach may be viewed as less aggressive, though Israeli officials have denied any attempt to sideline him.For markets, the development adds another layer of uncertainty. Progress toward negotiations could ease geopolitical risk and support risk assets, while continued delays or escalation may sustain pressure on oil prices, inflation expectations, and crypto market sentiment.