Following U.S. and Israeli airstrikes on key Iranian nuclear facilities in early 2026, including the February "Midnight Hammer" operation, IAEA reports from late February confirm Iran has suspended enrichment-related activities and stored its 440kg stockpile of 60% enriched uranium underground at Isfahan, though access remains limited. Ongoing U.S.-Iran ceasefire negotiations stalled this week amid demands for full IAEA inspections and no weaponization path, with Tehran stating it will not resume high-level enrichment. U.S. intelligence assesses no active nuclear weapons program, despite a potential weeks-long breakout time if pursued, reinforcing trader consensus at 90.5% "No" absent a sudden doctrinal shift or talks collapse before year-end.