The Institute for the Study of War (ISW) reports that Iran is preparing for renewed hostilities with the US and Israel, citing military movements and internal security exercises. The IRGC conducted drills to confront potential threats, while Iran's missile stockpiles remain largely intact. Negotiations between Iran and the US are stalled, with both sides unwilling to make concessions. The Pentagon reports the war's cost has risen significantly, and tensions continue to escalate as Iran demands recognition of its sovereignty over the Strait of Hormuz.