The United States has refused Israel’s request to review the memorandum of understanding with Iran before the signing ceremony, expected to take place in Geneva, Switzerland around June 19. The bilateral nature of the deal appears to be non-negotiable, and Israel is not being treated as a party to the framework.
For crypto markets, the implications are already materializing. Bitcoin climbed nearly 3% following the announcement, touching around $67,000 as traders priced in a potentially calmer geopolitical landscape in the Middle East.
What’s in the deal
The full text of the MOU has not been published, but leaked details paint a broad picture. Among the reported provisions: a 60-day ceasefire extension, the withdrawal of the IDF from southern Lebanon, reopening of the Strait of Hormuz, and phased sanctions relief tied to Iranian assets ranging between $12B and $24B. President Trump has noted the deal would make the Strait of Hormuz “permanently toll-free.”
Trump said on Tuesday that he would read the deal “word for word,” though he did not specify when. He has declined to confirm the specific terms that have been circulating in Iranian media.
