Recent U.S. and Israeli strikes on Iranian nuclear sites in June 2025 and February 2026 damaged key enrichment facilities at Natanz, Fordow, and Isfahan, extending estimated breakout timelines by disrupting centrifuges and related infrastructure. IAEA assessments through June 2026 report little change in Iran's program status amid restricted inspector access since the conflict, with Director of National Intelligence statements confirming no resumption of uranium enrichment as of March. Iran's stockpile of highly enriched uranium remains largely unrecovered under rubble at affected sites, while Tehran has signaled openness in ongoing talks to discuss pauses in enrichment or dilution of material in exchange for sanctions relief. These verified setbacks, combined with sustained diplomatic pressure and verification gaps, underpin trader consensus that Iran is unlikely to complete a nuclear device before 2027.