U.S. President Donald Trump speaks at the Oval Office at the White House in Washington, D.C., U.S., Thursday(local time). Reuters-Yonhap

WASHINGTON — U.S. President Donald Trump said Thursday that a peace agreement with Iran is in "pretty final shape" and could be signed in Europe this weekend, noting his understanding that Iran's top leader has approved it.

Trump made the remarks during a press availability at the White House, highlighting that the United States "just made a great settlement of the war with Iran," after he announced the cancellation of planned strikes on the Islamic Republic, citing progress in the peace negotiations.

South Korea and other countries have been closely watching developments in the Middle East conflict, which has all but closed the Strait of Hormuz, a key shipping route for oil, fertilizer and other commodities, and has pushed up oil prices.

"We have a signing soon and the documents are in pretty final shape. So, we'll see. Very good ... should be done pretty quickly," Trump said.