The US has committed to imposing no new sanctions on Iran while negotiations toward a final deal continue, according to Iran’s Tasnim News Agency. The pledge is part of a draft memorandum of understanding between Washington and Tehran that covers everything from nuclear discussions to oil export waivers, with a 60-day window to hammer out the details.

What’s in the draft deal

The draft MoU establishes several key commitments from both sides. The US has agreed to hold off on new sanctions as long as negotiations progress, a concession Iran has demanded since the original JCPOA nuclear deal era dating back to 2015.

Beyond the sanctions freeze, the agreement reportedly includes waivers on certain oil sanctions and the potential release of up to $25 billion in Iranian assets.

The 60-day negotiation window is designed to address three major issues: extending a ceasefire, reopening the strategic Strait of Hormuz, and tackling Iran’s nuclear program. The Strait of Hormuz alone handles roughly a fifth of the world’s daily oil supply, making its status a matter of global economic concern, not just regional politics.

Iran has consistently argued that without binding commitments from Washington, any deal risks becoming a repeat of the JCPOA, which the US withdrew from under the Trump administration in 2018. The inclusion of explicit no-new-sanctions language in this draft suggests both sides are trying to avoid that particular rerun.

Crypto sanctions tell a different story

While the diplomatic tone has shifted toward accommodation, the US has continued to take enforcement actions against Iranian crypto exchanges. The stated justification centers on alleged terror financing, a category that sits outside the scope of the broader negotiation framework.

For crypto platforms and compliance teams, the message is clear: geopolitical thaws don’t automatically translate into regulatory relaxation for digital assets. Iranian-linked wallets, exchanges, and intermediaries remain firmly on the Office of Foreign Assets Control’s radar regardless of what happens at the negotiating table.

What this means for markets

The oil market implications are the most immediate. If the MoU progresses and Iranian oil sanctions are waived even temporarily, additional supply hitting global markets could push prices lower. Equity markets have already begun responding to the prospect of reduced geopolitical risk in the Middle East.

The broader risk for market participants is that this deal, like many US-Iran negotiations before it, could stall or collapse entirely. No comprehensive agreement has been finalized, and the $25 billion in frozen assets remains exactly that, frozen, until ink actually hits paper on a final agreement.