The United States and Iran are expected to formally sign a memorandum of understanding on Friday, June 19, at the Bürgenstock resort in Switzerland. The agreement, brokered with help from Pakistani and Qatari mediators and hosted by the Swiss government, aims to de-escalate the conflict that erupted after US-Israeli strikes on Iran on February 28.
The MoU outlines a 60-day negotiation window covering nuclear issues and potential sanctions relief. It also includes provisions for reopening the Strait of Hormuz, a chokepoint through which a significant share of global oil shipments pass.
Diplomacy on one hand, sanctions on the other
On June 2, the US Treasury sanctioned Nobitex, Iran’s largest cryptocurrency exchange, for facilitating financial flows tied to the Iranian regime and the Islamic Revolutionary Guard Corps.
Nobitex processed over 50% of Iranian crypto inflows in 2025, according to the research.
