The United States and Iran have formalized a 14-point Memorandum of Understanding that extends an existing ceasefire by 60 days, reopens the Strait of Hormuz for commercial shipping, and lifts the US naval blockade on Iran. Bitcoin responded by climbing roughly 2% to around $65,800, its highest level in nearly two weeks.
The MOU, signed around June 17, 2026, by Presidents Donald Trump and Masoud Pezeshkian, is performance-based. Benefits are tied directly to compliance.
What the deal actually says
The Strait of Hormuz, the narrow waterway through which roughly a fifth of the world’s oil supply passes, is reopening toll-free for commercial vessels. The US naval blockade on Iran is being lifted simultaneously.
The deal opens discussions on releasing up to $25 billion in frozen Iranian assets. That release is contingent on Iran’s compliance with the MOU’s terms.
