Scott Bessent says US-Iran deal could be reached this weekend

Treasury Secretary Scott Bessent disclosed that the US and Iran could be nearing a tentative agreement, one that would carry significant implications for both global energy markets and the crypto industry. The potential deal hinges on Iran meeting several conditions, including reopening the Strait of Hormuz and surrendering its stockpile of highly enriched uranium.

Bessent also revealed that the US has seized approximately $1 billion in Iranian-linked crypto assets as part of what the administration is calling “Operation Economic Fury.”

What’s on the table

The framework being discussed between negotiators centers on a 60-day memorandum of understanding. The MOU would extend an existing ceasefire while creating space for deeper nuclear discussions. A potential signing date of June 13-14, 2026, is currently under consideration.

The conditions Bessent outlined on May 28 are substantial. Iran would need to reopen the Strait of Hormuz, a chokepoint that handles roughly 20% of all global oil and gas transportation. Beyond the strait, the US is demanding that Iran surrender its highly enriched uranium and commit to abandoning any nuclear weapons program.

Trump has emphasized specific red lines to prevent what he has called a “bad deal” and has not yet signed off on any deal.

The crypto angle: Operation Economic Fury

The $1 billion in seized Iranian-linked crypto assets represents an escalation in how the US government uses digital asset tracing and seizure as tools of foreign policy. No specific tokens or protocols were named in connection with the seized assets.

Energy markets and oil price dynamics

The Strait of Hormuz handles roughly 20% of all global oil and gas transportation, and any credible de-escalation around it would change the risk premium currently baked into oil prices. A broader sanctions relief package could also unleash Iranian energy exports onto global markets, putting downward pressure on prices.

What this means for crypto investors

The $1 billion seizure of Iranian-linked crypto signals that the US government’s capacity and willingness to pursue digital asset enforcement in the context of national security has grown. This matters for compliance frameworks across the industry, as the operational playbook for sanctions enforcement now clearly includes aggressive crypto seizure.

Investors should watch the June 13-14 window carefully. The president has not endorsed the current framework, and his insistence on avoiding a “bad deal” introduces meaningful uncertainty.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.