The reported memorandum of understanding would await final approval from President Donald Trump and links blockade relief to the restoration of commercial shipping through the Strait of Hormuz.
A report says the United States and Iran have reached a 60-day memorandum of understanding for a ceasefire and nuclear talks, pending final approval from President Donald Trump. The reported terms include Iran clearing mines in the Strait of Hormuz within 30 days and U.S. blockade relief being tied to the restoration of commercial shipping. The Strait of Hormuz is a critical global energy shipping route, so any change affecting transit there can influence oil markets, regional security, and broader risk sentiment across financial markets, including crypto.