India, June 29 -- On June 17, US President Donald Trump signed the Islamabad Accord at the Palace of Versailles over dinner with Emmanuel Macron, and Iranian President Masoud Pezeshkian signed from Tehran. The deal promised a ceasefire, a nuclear negotiation window, sanctions relief, and, critically, the reopening of the Strait of Hormuz, the 21-mile bottleneck through which, before the war began, roughly a quarter of the world's seaborne oil trade flowed every day.

Eleven days later, the strait is open. It is also a battlefield.

Iran has launched attacks on Bahrain and Kuwait after the United States struck five Iranian targets, with the Islamic Revolutionary Guard Corps confirming it launched ballistic missiles and drones at the US Ali...