US lifts naval blockade of Iran after signing ceasefire deal with $300B reconstruction fund
The memorandum of understanding reopens the Strait of Hormuz and establishes a conditional reconstruction fund, reshaping energy markets and geopolitical risk calculus overnight.
The US has lifted its naval blockade of Iranian ports following a memorandum of understanding signed on June 18, 2026, between US and Iranian officials. The deal extends a ceasefire by 60 days and unlocks a $300 billion reconstruction fund for Iran, contingent on the country’s compliance with nuclear inspections and other conditions.
The Strait of Hormuz is now open for commercial maritime traffic again. CENTCOM confirmed the blockade’s removal.
What’s actually in the deal
The MOU was signed by representatives from both sides, with US President Donald Trump and Vice President JD Vance playing key roles on the American side. Iranian Deputy Foreign Minister Kazem Gharibabadi represented Tehran.
The agreement prioritizes two immediate actions: normalizing maritime operations through the Strait of Hormuz and issuing sanctions waivers for Iranian oil exports.
The $300 billion reconstruction fund is primarily sourced from Gulf states and private investors, not the US Treasury directly. Vance has publicly clarified that Iran’s access to these funds is entirely conditional on compliance with nuclear inspections and other benchmarks laid out in the agreement.
How we got here
This agreement follows months of escalating military operations, including coordinated US and Israeli strikes against Iranian targets earlier in 2026. Previous ceasefire attempts proved short-lived. The naval blockade itself was initiated around April 2026, choking off Iranian port access and introducing significant volatility into global energy markets.
What this means for markets and investors
Oil prices dropped following the announcement. Trading futures showed bullish signals as market participants began pricing in more stable energy supplies from the region.
No digital assets or cryptocurrency tokens were mentioned in any official reports regarding the MOU. There was no talk of using blockchain for reconstruction fund disbursement, no stablecoin settlement mechanisms for oil trades, and no digital asset provisions in the sanctions waiver framework.