United States denies Israel access to Iran deal before signing, markets react

The United States has refused Israel’s request to review the memorandum of understanding with Iran before the signing ceremony, expected to take place in Geneva, Switzerland around June 19. The bilateral nature of the deal appears to be non-negotiable, and Israel is not being treated as a party to the framework.

For crypto markets, the implications are already materializing. Bitcoin climbed nearly 3% following the announcement, touching around $67,000 as traders priced in a potentially calmer geopolitical landscape in the Middle East.

What’s in the deal

The full text of the MOU has not been published, but leaked details paint a broad picture. Among the reported provisions: a 60-day ceasefire extension, the withdrawal of the IDF from southern Lebanon, reopening of the Strait of Hormuz, and phased sanctions relief tied to Iranian assets ranging between $12B and $24B. President Trump has noted the deal would make the Strait of Hormuz “permanently toll-free.”

Trump said on Tuesday that he would read the deal “word for word,” though he did not specify when. He has declined to confirm the specific terms that have been circulating in Iranian media.

Israel’s response and the diplomatic fallout

Israeli officials have not taken the exclusion quietly. The denial of access to the MOU before signing, reported by N12 on Tuesday, signals a clear US decision to keep this as a strictly bilateral agreement between Washington and Tehran.

Israeli Minister Ben-Gvir has stated that the agreement does not bind Israel regarding any Lebanon-related provisions.

The US withdrew from the JCPOA, the original Iran nuclear deal, in 2018. What followed was years of escalating sanctions, regional proxy conflicts, and periodic spikes in oil prices whenever tensions flared near the Strait of Hormuz. This MOU represents the most significant diplomatic engagement between the two countries since that withdrawal.

What this means for crypto investors

Oil prices fell following the MOU announcement, driven by market speculation that normalized shipping through the Strait of Hormuz would increase Iranian crude exports and ease global supply constraints.

Bitcoin’s move to around $67,000 fits this pattern. The nearly 3% surge followed traders repositioning based on a potentially more stable macro environment.

The phased sanctions relief component deserves particular attention. If $12B to $24B in previously frozen Iranian assets gradually re-enter the global financial system, that represents new liquidity entering global markets.

Traders should also watch the formal signing itself. The fact that Trump is publicly promising to read the deal “word for word” without specifying a timeline introduces a layer of uncertainty. If Israel acts unilaterally on Lebanon-related security concerns, contradicting provisions of the MOU, the geopolitical calm that markets are pricing in could evaporate quickly.

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