Crypto news

June 20, 2026 — The Khatam al-Anbiya Central Command, Iran's supreme joint headquarters, has officially announced the closure of the Strait of Hormuz to shipping. The reason cited is alleged systematic violations of the recently signed Islamabad Memorandum by the United States and Israel.

This decision instantly devalues all market hopes for de-escalation that were priced into oil just a few days ago. The strait, through which approximately 21 million barrels of oil and petroleum products pass daily (20% of global consumption and a quarter of all seaborne oil trade), once again becomes the epicenter of geopolitical turbulence. There are virtually no alternative routes for Gulf countries.

The Iranian command called this a "first step" and warned of further measures if aggression continues. According to their version, Israel's actions in Lebanon and the US naval blockade of Iranian ports are a direct violation of the 14-point memorandum agreed upon around June 17.

To recall: this memorandum stipulated that Iran would ensure safe and free passage for commercial vessels within the first 60 days, while the US would lift the blockade on Iranian ports. Tanker traffic began to recover, leading to a decline in energy prices. However, Tehran's current statement effectively nullifies these agreements.

Notably, US Vice President JD Vance has already denied the official closure of the strait, stating the opposite. Yet the mere fact of such a statement from Iran is a powerful signal to the market. Even if the blockade is not physically implemented, the psychological effect has already put pressure on futures.

My analysis: The market is once again facing a "crisis of confidence" in geopolitical agreements. Even a temporary blockage of Hormuz could trigger a sharp spike in oil prices to levels above $100 per barrel, impacting global inflation and, consequently, the cryptocurrency market, which remains sensitive to macroeconomic shocks. Investors should prepare for increased volatility.