US-Iran ceasefire talks continue amid unresolved Strait of Hormuz standoff

Iran and the US are negotiating a ceasefire proposal following the late-February Israeli-American airstrike that started the conflict. While weapons are relatively quiet, a power struggle persists in the Strait of Hormuz, with Iran demanding control and the US enforcing a blockade of Iranian ships; neither side can fully impose its will. Iran's leverage over the global economy appears weaker than initially feared, but the standoff remains unresolved.