The United States and Iran have signed a preliminary memorandum of understanding that effectively ends over 100 days of conflict, reopens the Strait of Hormuz, and sets the stage for sweeping nuclear and sanctions negotiations. Bitcoin responded by climbing to around $67,000, its highest level in roughly two weeks, as markets priced in a calmer geopolitical landscape.
The MOU was announced around June 14-15, 2026, and electronically signed by Presidents Donald Trump and Masoud Pezeshkian by June 17. The conflict it aims to resolve began on February 28, 2026, and included US operations in Lebanon and a naval blockade that choked commercial shipping through the Strait of Hormuz.
Under the agreement, the US lifts its naval blockade and allows unburdened commercial shipping to resume. Iran, for its part, commits to abstaining from pursuing nuclear weapons. Temporary waivers will allow Iranian oil sales during the negotiation period.
The headline number: $300 billion earmarked for Iran’s reconstruction. Both sides will negotiate the specifics of sanctions relief and nuclear oversight within a 60-day window.
Brent crude dropped below $80 per barrel on the prospect of Iranian oil returning to global supply. Bitcoin hit approximately $67,000 in the immediate aftermath, with Ethereum and XRP also posting gains.
