The war that Donald Trump declared won last month looks rather different from the inside of the Pentagon. The resulting stalemate has drained American military stockpiles, emboldened Iranian commanders, and left the US with far worse options than before the conflict began.

The administration’s triumphalist framing has struck a jarring note among those who have spent careers studying the Iranian military and the limits of American power projection. Declaring victory when the enemy is still standing, still armed, and still controlling the waterway you went to war over is not a strategy. It is a wish dressed up as a press release.

At the heart of the impasse are two demands that Tehran has consistently and categorically rejected. Iran will not surrender what it regards as its sovereign right to develop its uranium program, and it will not yield control of the Strait of Hormuz. Those two positions were Iran’s red lines before the fighting started. They remain Iran’s red lines now. Nothing in between has changed.

At the heart of the impasse are two demands that Tehran has consistently and categorically rejected. Iran will not surrender what it regards as its sovereign right to develop its uranium program, and it will not yield control of the Strait of Hormuz. Those two positions were Iran’s red lines before the fighting started. They remain Iran’s red lines now. Nothing in between has changed.

What has changed is the arithmetic of munitions. The United States entered this conflict with a military built around expensive, technologically sophisticated weapons systems, precision instruments that take years to design, years more to manufacture, and that........

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