Trump suggests Iran sanctions could be lifted if ‘they behave’

Speaking at the G7 summit on June 17, President Trump floated the possibility of easing sanctions on Iran, framing it with the kind of conditional language that has become his diplomatic signature.

“When they behave, we’re going to let that go… I put sanctions on a lot of people, and then I let them go,” Trump said, referencing the sweeping economic restrictions his administration has placed on Tehran.

From maximum pressure to memorandum of understanding

The remarks land just days after the US and Iran finalized a memorandum of understanding around June 15. The MoU includes a 60-day ceasefire and opens the door to continued negotiations over sanctions relief, nuclear issues, and the reopening of the strategically vital Strait of Hormuz.

Back in February 2025, the Trump administration reimposed what it called a maximum pressure strategy against Iran. Now, Trump made a humanitarian case for eventual relief, referencing Iran’s population of 91 million and suggesting that sustained sanctions could push the country toward widespread poverty or starvation.

In March 2026, the administration had already offered a preview of this softer approach. A temporary waiver allowed approximately 140 million barrels of Iranian oil sitting at sea to enter global markets.

Crypto caught in the crossfire

In June 2026, OFAC, the Treasury Department’s sanctions enforcement arm, targeted four Iranian crypto exchanges: Nobitex, Wallex, Bitpin, and Ramzinex. Nobitex alone accounted for over half of Iranian digital-asset inflows in 2025, making it the dominant on-ramp for crypto activity in a country where traditional banking access has been severely constrained.

Prior enforcement actions had already resulted in freezes of assets on these exchanges, including stablecoins like USDT.

What this means for investors

Iran has 91 million people, many of whom have already demonstrated demand for digital assets as an alternative financial rail. A sanctions rollback could reactivate exchanges like Nobitex and its peers, potentially unleashing pent-up demand for stablecoins and other crypto assets.

USDT has historically been the preferred digital asset in sanctioned economies because it offers dollar exposure without requiring a US bank account. If Iranian exchanges come back online with access to global markets, stablecoin volumes could see a notable uptick driven by cross-border transactions.

The 60-day ceasefire window embedded in the MoU gives markets a rough timeline to watch. For now, the key signals will emerge from OFAC designations and any updates to the Specially Designated Nationals list. Trump’s “when they behave” framing keeps maximum optionality on the table — the sanctions are leverage, and leverage only works if lifting them remains credible.

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