Iranian ballistic missile launches have fallen by more than 90 percent from 350 on February 28 to roughly 25 by March 14, according to publicly available data. Its air defences have been suppressed to the point at which the US is now flying nonstealth B-1 bombers over Iranian airspace, a decision that signals near-total confidence in air dominance. By March 2, US Central Command announced local air superiority over western Iran and Tehran, achieved without the confirmed loss of a single American or Israeli combat aircraft. Iran entered 2026 with 440kg of uranium enriched to 60 percent purity – enough, if further enriched, for as many as 10 nuclear weapons. The economic pain is real: Oil prices have surged, a record 400 million barrels of oil will be released from global reserves, and Gulf states are facing drone and missile strikes on their energy infrastructure. Hezbollah is weaker than at any point since 2006, degraded by more than a year of Israeli operations before this campaign began.