Qatar and Pakistan served as mediators between the United States and Iran during indirect negotiations held in Doha in late June and early July 2026. Both nations submitted their responses to a joint proposal on July 26, 2026, with the main objective of easing tensions around the Strait of Hormuz, through which approximately 20% of the world’s seaborne oil passes daily. Iran has started accepting Bitcoin and USDT for transit fees, set at roughly one dollar per barrel, a measure aimed at circumventing Western financial sanctions. The Islamabad Memorandum, signed in June 2026, establishes a 60-day timeline for reaching broader agreements on maritime access and regional peace-building measures. Bitcoin prices have already shown upward movement in response to improved odds of a US-Iran peace deal materializing.
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