Trump announces Iran deal at G7 summit, full text expected after Friday signing

President Donald Trump confirmed a memorandum of understanding with Iran on Monday, announcing the agreement upon his arrival at the G7 summit in Évian-les-Bains, France. The full text of the deal will be released following a formal signing ceremony scheduled for Friday, June 19.

The agreement includes the reopening of the Strait of Hormuz for commercial shipping without tolls and the lifting of the US naval blockade on Iranian ports. Bitcoin responded by surging past $65,000, with prices reaching as high as $65,860 in some trading sessions as markets priced in a meaningful de-escalation of Middle Eastern tensions.

What’s in the deal

The framework establishes a 60-day ceasefire between the US and Iran. The Strait of Hormuz, which handles roughly 20% of global oil trade, is expected to be fully open by Friday, according to Trump’s remarks.

Iranian officials have confirmed the MoU, pointing to the same June 19 target date for the formal signing. Sanctions relief is reportedly on the table, with discussions potentially involving the release of up to $25 billion in frozen Iranian assets.

The deal deliberately leaves deeper structural issues, including Iran’s nuclear program, for future negotiations.

The backstory and why it matters now

Negotiations between Washington and Tehran broke down in late 2025, leading to a sharp escalation that included Israeli military strikes against Iranian targets and a US naval blockade of Iranian ports. The blockade created cascading disruptions in global energy supply chains.

The G7 summit, running from June 15 through 17, is expected to be dominated by discussions around the deal and its implications for global energy security. Trump’s announcement on the first day of the meeting effectively set the agenda for every other world leader in attendance.

What this means for crypto investors

Bitcoin’s move above $65,000 following the announcement reflects market response to geopolitical de-escalation. The rally to $65,860 represents a meaningful shift in sentiment.

The sanctions relief angle is worth watching closely. If up to $25 billion in frozen Iranian assets eventually gets unlocked, that’s new liquidity entering global markets. More oil supply means lower energy costs, which eases inflation pressure.

Traders positioning around Friday’s signing should be watching for two things. First, whether the actual text contains specific timelines and enforcement mechanisms, or whether it reads more like a statement of intentions. Second, how oil markets react once the Strait of Hormuz formally reopens.

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