Recent U.S.-Israeli strikes on Iranian nuclear sites in June 2025 and February 2026 damaged enrichment facilities at Natanz, Fordow, and Isfahan, while U.S. intelligence assessments as of May 2026 indicate Iran's estimated timeline to produce a weapon remains extended to roughly nine to twelve months if leaders pursue that path. Director of National Intelligence testimony in March 2026 confirmed Iran has not resumed uranium enrichment at declared sites, with its highly enriched uranium stockpile largely inaccessible amid the damage. Ongoing diplomatic efforts to end the conflict and address the stockpile continue without evidence of accelerated weaponization activity. These verified developments underpin trader expectations that Iran will not acquire a nuclear weapon before 2027.