The US and Iran agreed on June 14 to end nearly four months of armed conflict, a diplomatic breakthrough that immediately rippled through energy and crypto markets. Bitcoin prices climbed on the announcement while oil prices dropped.
Now G7 leaders are sitting down in Évian-les-Bains, France, for their annual summit running June 15-17, with the freshly inked deal at the top of the agenda.
What the deal actually includes
The agreement extends the existing ceasefire by 60 days, giving both sides breathing room to formalize a more permanent arrangement. A formal memorandum of understanding is expected to be signed on or after June 19, either electronically or in Geneva.
Two provisions stand out as immediately consequential for global markets. The Strait of Hormuz will be reopened to shipping. And the US naval blockade on Iranian ports is set to be lifted.
