US officials dropped a diplomatic bombshell at the G7 summit in Évian, France, circulating a draft memorandum of understanding with Iran on June 16, 2026. The 14-point framework aims to end one of the most protracted geopolitical standoffs of the century, and markets are already responding.
Bitcoin crossed the $67,000 mark during the G7 meetings as traders digested the implications. Oil prices moved in the opposite direction, falling on the prospect of Iranian crude flooding global markets again.
What’s in the deal
The core of the MOU is straightforward: Iran pledges not to produce nuclear weapons. In return, the country gets immediate permission to resume oil exports and a pathway toward broader sanctions relief.
Then there’s the money. The framework proposes a $300 billion reconstruction fund, roughly on par with the entire GDP of Chile. That tab isn’t being picked up by American taxpayers. Gulf nations are expected to finance the fund, a detail that likely made the deal significantly more palatable in Washington.
