Recent U.S.-Iran hostilities, including airstrikes and naval incidents around the Strait of Hormuz since the February 2026 escalation, have stayed confined to missile, drone, and targeted operations rather than ground forces. A June memorandum of understanding and subsequent talks have emphasized sanctions relief, nuclear constraints, and de-escalation, though violations persist. President Trump has signaled intent to wind down major combat after the November midterms while weighing economic pressure over large-scale troop commitments. Military assessments highlight high risks, logistics demands exceeding current regional deployments, and potential retaliation that could broaden the conflict, aligning with trader consensus against a full invasion before 2027.