New Delhi, March 26 -- As the US-Iran war drags on and global markets reel from the fallout, one thing is becoming increasingly clear - a ceasefire, if and when it comes, is unlikely to be dictated solely by Washington. While Donald Trump may want a quick resolution to calm energy markets and reduce geopolitical uncertainty, Tehran appears to hold enough leverage to resist any one-sided deal.

From oil chokepoints and inflation risks to diplomatic mistrust and regional alliances, the conflict has moved far beyond a simple military confrontation. Experts believe the current situation reflects a deeper power struggle in which economic pressure, strategic geography and political compulsions are all shaping the battlefield.

The war has alrea...