Iran’s Supreme Leader Mojtaba Khamenei has approved a memorandum of understanding with the United States. The authorization, issued on June 18, 2026, launches a 60-day negotiation period aimed at defusing one of the most volatile geopolitical standoffs in recent memory.

The 14-point interim agreement covers everything from Iran’s nuclear program to the reopening of the Strait of Hormuz. A formal signing ceremony is expected around June 20 in Geneva.

What’s actually in the deal

Iran has pledged to forgo nuclear weapons as part of the agreement’s commitments.

The deal also outlines a plan to restore maritime access through the Strait of Hormuz, involving coordination between Iran, Oman, and Gulf nations. Immediate steps include lifting the US naval blockade of Iranian ports and permitting commercial shipping through the strait.

The agreement establishes a $300 billion fund for reconstruction and economic development. The fund carries no obligation for US contributions, which means the money would need to come from a combination of Iranian assets, regional partners, and potentially unfrozen funds tied to sanctions relief.

The agreement references US relief measures including waivers for Iranian crude exports.

The MOU was digitally endorsed by both national presidents before US President Donald Trump physically signed the document at the Palace of Versailles. Khamenei authorized the deal after receiving assurances from President Masoud Pezeshkian and Iran’s Supreme National Security Council that Iran’s rights and interests would be protected.

Khamenei’s approval came despite what has been described as personal reservations. During the authorization process, he stated opposition to what he characterized as excessive US demands.

The geopolitical backdrop

This agreement didn’t materialize in a vacuum. It follows a period of escalated tensions between the US and Iran, including the naval blockade of Iranian ports that disrupted shipping through one of the world’s most strategically critical waterways.

The 2015 Joint Comprehensive Plan of Action, commonly known as the Iran nuclear deal, followed a similar trajectory before the US withdrew in 2018.

What this means for markets and investors

If the Strait of Hormuz reopens to normal commercial traffic and Iranian crude exports resume under sanctions waivers, the short-term effect would likely be downward pressure on oil prices.

Iran has historically been one of the more active countries in Bitcoin mining, partly as a workaround for sanctions-related restrictions on its financial system.

The $300 billion reconstruction fund is worth watching closely. The question of where those funds actually come from, and on what timeline, will determine whether this is a real economic catalyst or an aspirational number on paper.