US, Iran Agree on Strait of Hormuz Deal with $300B Reconstruction Fund

The US has reached an agreement with Iran regarding the Strait of Hormuz, a critical shipping route in the Middle East. According to Vice President JD Vance, Iran has agreed not to attack any ships since signing a memorandum of understanding (MOU) with the United States on June 15, 2026. In return, the US has lifted its naval blockade imposed earlier this year.

The MOU includes a 60-day negotiation framework aimed at addressing nuclear verification protocols, international inspections, and potential sanctions relief. If Iran complies with the agreement's terms, it could gain access to a $300 billion Gulf-funded reconstruction fund.

Before the agreement, there were reports of Iran accepting cryptocurrency payments as transit tolls during a temporary ceasefire in April-May 2026, priced at $1 per barrel. However, the MOU itself does not mention cryptocurrency or digital assets.