The United States and Iran have finalized a 14-point memorandum of understanding extending their ceasefire for 60 days. The agreement reopens the Strait of Hormuz and grants temporary sanctions waivers allowing Iranian oil exports. Formal signing is scheduled for June 19, 2026, in Switzerland.
This framework builds on a prior ceasefire brokered by Pakistan in April 2026. The strategic waterway will reopen immediately without tolls following the signing, and the US naval blockade on Iranian ports will be lifted. In exchange for export access, Iran commits to halting nuclear weapons pursuit during this period.
Oil markets are already adjusting to the news. The Strait of Hormuz handles roughly one-fifth of global daily consumption. Traders are removing geopolitical risk premiums as the threat recedes. Temporary waivers also introduce new supply-side pressure as Iranian crude reenters the market.
For digital asset investors, legitimate export channels may temporarily reduce incentives for sanctions evasion via cryptocurrency. The 60-day window remains the critical metric. While the previous Pakistan-brokered truce collapsed after two weeks, this comprehensive framework suggests broader regional de-escalation including Lebanon. Market participants now view the June 19 signing as the next major catalyst.