Recent U.S. and Israeli airstrikes in June 2025 and February 2026 targeted Iranian enrichment and weaponization facilities, including Natanz, Fordow, and Isfahan, destroying key centrifuge infrastructure and halting uranium enrichment with no detected reconstruction or resumption. IAEA inspectors withdrew after the initial strikes, limiting verification, while Iran's enriched uranium stockpile remains inaccessible and unrecovered. Ongoing U.S.-Iran negotiations focus on sanctions relief and nonproliferation assurances, and intelligence assessments indicate the timeline for Iran to produce a weapon has extended well beyond immediate horizons. These developments underpin trader consensus that a completed nuclear device before 2027 remains unlikely absent major reversal.