The United States and Iran have signed a 14-point Memorandum of Understanding aimed at ending a four-month military conflict that rattled global energy markets and pushed geopolitical risk premiums to levels not seen in years. The agreement, formalized around June 17-18, mandates an immediate cessation of military operations across all fronts, including Lebanon, and reopens the Strait of Hormuz for toll-free commercial shipping.
Here’s the thing: this isn’t a peace deal. It’s a 60-day window to negotiate one. Bitcoin, Ethereum, and a basket of altcoins all moved higher on the announcement, driven by optimism around falling oil prices and the prospect of sanctions relief.
What the MOU actually says
The agreement was announced on June 15 and signed by US President Donald Trump alongside Iranian President Masoud Pezeshkian and Parliament Speaker Mohammad-Bagher Ghalibaf. Pakistan served as the primary mediator, with Qatar playing a supporting role, building on a ceasefire that had been in place since early April 2026.
The 14 points cover a lot of ground. Military operations must stop immediately. The Strait of Hormuz, a chokepoint for roughly 20% of global oil and gas trade, is to be reopened without tolls for commercial shipping. Iran commits to not developing nuclear weapons. And during the 60-day negotiation period, sanctions waivers for Iranian oil sales are on the table.
