BUDAPEST -- US Vice-President JD Vance said on Tuesday that the United States has largely achieved its military objectives against Iran, while warning that Tehran faces a narrowing window to enter negotiations or risk further economic hardship.

Speaking at a joint press conference with Hungarian Prime Minister Viktor Orban in Budapest, Vance said Washington would continue efforts to curb Iran's weapons production capabilities.

Vance confirmed that US forces had struck military targets on Iran's Kharg Island, but stressed that energy infrastructure had not been targeted, in line with a previously set deadline.

"The president believes this war could conclude very quickly," Vance said, outlining two possible paths: Iran could "no longer support terrorism" and integrate into the global economy, or face prolonged economic isolation.

He said the United States has set a deadline for Tehran to respond to negotiations by 8:00 pm US Eastern Time, giving Iran roughly 12 hours to respond, and expressed hope for a "favorable answer" that would allow the resumption of oil shipments through the Strait of Hormuz.

"Military force remains an option if Iran does not change its behavior, but this is not the preferred path," he added.

On bilateral relations, Vance said the United States seeks strong cooperation with Hungary, particularly in the areas of energy security and independence.

He criticized what he described as pressure from "Eurocrats" in Brussels on Hungary over its policy decisions, adding that Washington maintains multiple channels of cooperation with Budapest.

Vance also questioned Western European approaches to energy policy, noting that some leaders speak of an energy crisis while not supporting Hungary's strategy. He said Hungary has managed to keep energy prices below levels seen in parts of Western Europe.

Hungary has advocated maintaining access to relatively cheap Russian fossil fuels as part of Europe's economic model - a position that differs from broader European Union efforts to reduce dependence on Russian energy.

Vance said the United States supports Europe's long-term success and energy independence, adding that Hungary's policy direction could contribute to strengthening energy security across the continent.

Orban said economic relations between Hungary and the United States have strengthened, citing increased trade and recent investment announcements by US companies. He added that cooperation has also expanded into areas such as the space and defense industries.

On energy, Orban warned that Europe is facing what he described as a deepening energy crisis, marked by rising prices and potential shortages of oil and gas. He said US-Hungarian cooperation in the energy sector is crucial for ensuring Hungary's energy security.

Regarding Ukraine, Orban reiterated Hungary's support for peace efforts, saying the country has been living "in the shadow of war" for several years. He stressed that diplomatic solutions should be prioritized and called for progress in ongoing peace initiatives.