finance
US-Iran War Ends in Cease-Fire After 39 Days of Conflict Over Strait of Hormuz
The United States and Iran agreed to a two-week cease-fire following 39 days of military strikes that began on February 28, 2026. The conflict centered on Iran's control of the Strait of Hormuz, a key global oil transit route. Negotiations are set to resume in Islamabad, with the U.S. failing to achieve its stated goals of preventing Iranian nuclear development and eliminating ballistic missiles.
Apr 9, 11:45 AM·2m read2 sources
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The cease-fire came 12 hours after U.S. officials threatened further action and weeks after demanding unconditional surrender. Negotiations are scheduled to resume in Islamabad later this week, focusing partly on control of the strait.
“We’re thinking of doing it as a joint venture; it’s a way of securing it—also securing it from lots of other people.”
By midday on April 10, Iran halted ship transits through the strait in response to Israeli attacks on Lebanon that killed and wounded hundreds. Iran also launched strikes on U.S. allies in the Gulf, demonstrating continued support for its proxies. Officials stated that Iran suffered a devastating military defeat.
However, Iran's retention of strait control provides a strategic deterrent against future attacks, cheaper to deploy than nuclear weapons and influencing global energy markets.
Before the war, Iran's influence relied on proxies including Hamas in Gaza, Hezbollah in Lebanon and Syria, Houthis in Yemen, and militias in Iraq. These networks weakened after U.S. actions, Israeli-led wars in Gaza and Lebanon, the collapse of the Syrian regime, and domestic protests in Iran starting in December 2025 that were suppressed.
War aims shifted during the conflict. Initially focused on regime change, this goal receded after Iran replaced its slain leader, with no popular uprising. Officials later claimed regime change occurred through new leadership, though the regime remained intact.
Officials also asserted that nuclear sites were obliterated or inaccessible due to rubble from prior strikes in June 2025. The U.S. called on NATO allies to help open the strait, but they declined. Officials emphasized U.S. energy self-sufficiency, suggesting the strait would open naturally post-war.
