The US and Iran finalized a memorandum of understanding on June 15, 2026, establishing a permanent ceasefire and reopening the Strait of Hormuz. Markets responded almost instantly, with Asian stocks surging, oil prices tumbling, and Bitcoin catching a bid.
Iran’s Supreme National Security Council confirmed the deal, which marks the most significant diplomatic breakthrough between Washington and Tehran in decades. The Strait of Hormuz, a narrow waterway through which roughly a fifth of the world’s oil supply passes, had become a flashpoint during months of escalating tensions.
What the deal includes
The MoU outlines an initial release of $12 billion in blocked Iranian assets, with the possibility of up to $24 billion being unfrozen over the 60 days following the signing.
How markets reacted
