US President Donald Trump is set to sign a proposed Iran peace deal on Sunday, according to key mediator Pakistan, with the agreement expected to ease sanctions on Iranian oil exports and reopen the strategic Strait of Hormuz.
The deal, which has been in the works for months, would see the US release billions of dollars in frozen Iranian assets in exchange for Iran's cooperation on its nuclear programme.
Iran has maintained a blockade of the Strait of Hormuz since the early stages of the war, requiring vessels to obtain permission from its armed forces before passage.
However, Trump has repeatedly said that an agreement was close, and on Saturday, he expressed confidence that the process was nearing completion.
The proposed deal also envisions a 60-day negotiation process focused on Iran's nuclear programme, with the eventual goal of dismantling the programme and implementing a long-term inspection regime to verify compliance.
