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When coercion lacks clarity, the weapon turns back on the hand that threw it. One hundred and ten days of American and Israeli bombardment. A relentless naval blockade. The proclaimed objective: to cripple Iran’s nuclear ambition, shatter its missile arsenal, and break the back of the Islamic Republic. And now? A memorandum of understanding. A ceasefire on ‘all fronts’. And the slow, grudging unfreezing of more than $100 billion in Iranian assets—the very financial sinews that sanctions were meant to sever.

This is not a victory. This is the sound of strategy unravelling.