The United States and Iran have signed an interim memorandum of understanding, marking the most significant diplomatic breakthrough between the two nations in over a decade. President Donald Trump electronically signed the 14-point framework on June 17, 2026, and it went into effect immediately.
The deal extends a ceasefire, reopens the Strait of Hormuz to commercial shipping, and gives both sides a 60-day window to hammer out the really thorny stuff: Iran’s nuclear program and the terms of sanctions relief. Iran, for its part, has pledged to dilute its stockpile of highly enriched uranium.
Bitcoin responded the way Bitcoin does when war clouds thin out. It jumped to $66,000 shortly after the announcement.
What the deal actually covers
Roughly 20% of the world’s oil passes through the Strait of Hormuz, so restoring commercial shipping routes there has direct implications for global energy prices.
