President Donald Trump and Iranian President Masoud Pezeshkian electronically signed a preliminary memorandum of understanding on June 15, 2026. This agreement establishes a 60-day ceasefire between the US, Israel, and Iran to stabilize global energy markets.
The deal mandates reopening the Strait of Hormuz, lifting the US naval blockade, and pausing military operations in Lebanon. Pakistan and Qatar mediated the process, with a formal signing ceremony scheduled for June 19 in Switzerland. Critical negotiations regarding Iran’s nuclear program have been deferred to future talks.
Global markets reacted immediately to the de-escalation. Oil prices fell approximately 5%, extending a 33% decline from March 2026 highs caused by supply chain disruptions. Bitcoin and the broader crypto market rallied significantly as risk sentiment improved.
Decentralized prediction market Polymarket recorded over $120 million in transaction volume on the peace deal contract. This activity highlights the growing correlation between digital assets and macro-geopolitical events. However, President Trump cautioned that military operations could resume if Iran fails to adhere to the ceasefire terms.