New Delhi, April 9 -- The US-Iran ceasefire, framed as a two-week conditional truce, offers relief but is less of a resolution than a pause in a fast-escalating crisis. It follows nearly 40 days of sustained US-Israeli military pressure on Iran, itself an extension of the unresolved tensions that persisted after the 2025 Iran-Israel confrontation. In that sense, this ceasefire is simply a momentary recalibration in a longer strategic contest.

At its core, the arrangement reflects a transactional bargain. Washington and Tel Aviv have halted direct strikes on Iran, while Tehran has agreed to ease its chokehold on the Strait of Hormuz. The fact that a large fraction of the world's oil trade was at stake underscores how quickly a regional co...