With the March 31 deadline passed and no verified military action—such as airstrikes or offensive operations—by France, the UK, or Germany against Iran, traders reflect near-unanimous consensus on "No," pricing it at 100%. Early March joint statements from the E3 (France, Germany, UK) condemned Iranian missile and drone attacks on regional allies, vowing defensive measures to protect Gulf interests, yet leaders like Macron emphasized de-escalation and criticized US-Israeli strikes as outside international law. Throughout the month, Europe prioritized diplomacy, sanctions, and limited logistical support amid domestic pressures and risks to energy supplies via the Strait of Hormuz, avoiding direct escalation. Realistic shifts would require confirmed late-breaking reports of classified actions, though none have emerged.