President Trump is pushing to fast-track the second phase of the US-Iran framework agreement, with a Memorandum of Understanding expected to land as soon as mid-June. The plan: formalize a short-term deal that halts hostilities, then use a 60-day window to hammer out the hard stuff, including Iran’s nuclear program and sanctions relief.

Trump has signaled he intends to submit key elements of the agreement to Congress shortly after it’s reached.

What the MoU actually covers

The MoU is designed to de-escalate military tensions in the region and reopen the Strait of Hormuz to normal commercial traffic. The signing could take place in Geneva or elsewhere in Switzerland, with references pointing to around June 19 as a target date.

The 60-day negotiation period is expected to tackle uranium enrichment, which has been the central anxiety of every Iran deal since the Obama era. Iran’s enrichment capabilities have expanded significantly since the US withdrew from the 2015 Joint Comprehensive Plan of Action, and any new agreement would need to address where those capabilities stand today. Iran reportedly also wants to discuss the release of assets that have been frozen under US sanctions.

Why this matters beyond diplomacy

The Strait of Hormuz handles roughly a fifth of the world’s oil supply on any given day. When tensions escalate, insurance premiums on tankers spike, shipping routes get rerouted, and crude prices react accordingly.

If negotiations progress toward meaningful sanctions relief for Iran, the implications for crude oil prices could be substantial. Iran sits on some of the largest proven oil reserves on the planet, and sanctions have kept a significant portion of that supply off the global market. Any deal that loosens those restrictions could bring Iranian barrels back into circulation, putting downward pressure on prices.

Trump’s decision to route the agreement through Congress adds another layer of complexity. The 2015 agreement faced fierce opposition from Republican lawmakers, and bipartisan skepticism of Iran’s intentions runs deep on Capitol Hill. Congressional approval would make any new agreement harder for a future president to unwind unilaterally.

What investors should actually watch

For crypto markets specifically, there are no blockchain or digital asset components in the US-Iran negotiations, and the immediate effects are unlikely to move cryptocurrency valuations in any meaningful way.

The 60-day clock, assuming the MoU gets signed around mid-June, would run through mid-August. Traders in energy, equities, and currencies tied to Gulf states should plan for headline-driven swings during that window.