India and Pakistan are in a strategic standoff following a deadly attack on tourists in Pahalgam, Kashmir, which resulted in 26 fatalities. In response, India downgraded ties with Pakistan, suspending its participation in the Indus Waters Treaty (IWT) and closing its main land border, while Pakistan retaliated with similar measures and threatened to suspend all bilateral agreements. The IWT, crucial for water sharing between the two countries, faces significant jeopardy, as Pakistan warns that any disruption to its water supply would be seen as an “act of war.”