Trump, Iran agree to MOU opening Strait of Hormuz: What is in the 60-day deal?

Trump and Iran have agreed to a 60-day MOU to reopen the Strait of Hormuz, with formal signing scheduled for Friday in Switzerland. The White House has tied sanctions relief to specific performance benchmarks. This agreement is expected to reduce geopolitical tensions and stabilize global oil markets, potentially impacting the energy and crypto sectors. However, the effectiveness of the deal hinges entirely on Iran's compliance with the terms outlined in the memorandum of understanding.