The United States and Iran are inching closer to finally signing a peace deal, likely bringing an end to a war that has now lasted for more than three months. On Saturday, US President Donald Trump announced that the two sides are scheduled to sign the peace agreement on Sunday (local time).Pakistan's foreign minister also said, without disclosing any other details, that the US-Iran peace deal signing ceremony was planned for Sunday. (Agencies)Pakistani prime minister Shehbaz Sharif also said that a peace deal was likely to be finalised within the next 24 hours, following which Tehran and Washington would sign the deal electronically. Follow US-Iran war live updates"With finalisation likely expected in the next 24 hours, Pakistan is preparing for the electronic signing of the peace deal immediately after, followed by technical level talks next week," Sharif was quoted as saying by The Associated Press.ALSO READ | Modi, Trump set for first meeting since February amid trade, Iran war concernsPakistan's foreign minister also said, without disclosing any other details, that the signing ceremony was planned for Sunday.However, Iran has not yet confirmed the signing on Sunday. Before Trump announced the signing of the peace deal in a Truth Social post, Iranian foreign ministry spokesperson Esmaeil Baghaei cautioned against comments on the timing of the signing."It will not be tomorrow, but could happen in the coming days," Baghaei was quoted as saying by Iranian state media.What did Trump say?Not only did the US President announce the signing of the peace deal with Iran, but he also claimed that Tehran "no longer" wants a nuclear weapon.He further claimed that immediately after the deal is signed, the Strait of Hormuz will be "open to all"."Barack Hussein Obama’s Deal with Iran, the JCPOA, was an easy, beautiful, smooth road to a Nuclear Weapon, which Iran would have had six years ago, and would have used long before now. My Agreement with Iran is the exact opposite, A WALL TO NO NUCLEAR WEAPON! In fact, they no longer want a Nuclear Weapon, nor will they have one, either through purchase, development, or any other form of procurement. The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL," Trump wrote on Truth Social.He compared his government's relationship with Iran with those of the previous US administrations.ALSO READ | ‘Not justified’: In call with Rubio, Jaishankar raises concern over Indian sailors' death in US strikes"Unlike Obama’s Hundreds of Billions of Dollars in payments to them, including 1.7 Billion Dollars in green, cold cash, no money will exchange hands. At the appropriate time, when all is calm, we will go in and get the Nuclear Dust, buried deep under the powerful sunken granite mountains, thanks to our beautiful B-2 Bombers and their brilliant pilots, and downblend and destroy it, whether in Iran or the United States," he added.Trump said the US is looking forward to working with Iran and the entire Middle East region.However, the US President cautioned. He said if the situation does not work out easily and smoothly, then the US has to go with the "ultimate alternative", which Trump hoped would "never be used again".What's in the proposal deal?According to Iranian foreign minister Abbas Araghchi, changes to the deal were still possible, but the tentative agreement reflected a stronger emergence of the Islamic Republic.Hours after Araghchi's remarks, US forces reportedly shot down multiple Iranian one-way attack drones heading towards the Hormuz, Reuters reported, citing a source.While Iran has kept the crucial waterway blocked, the US Navy has kept its blockade on Iranian ports firm.A US official on Saturday said that the deal with Iran was "a great and a very strong" deal.The official further added that Tehran will open the Strait of Hormuz, a requirement of the peace deal. "It could be open with no tools. As they do that, we will lift our blockade," the official added."It's going to happen in conjunction, and part of the next step, the phase after that, is going to be the demining of the straits," the official said, suggesting that the G7 nations might play a role in this.Additionally, the US would also begin releasing billions of dollars of frozen Iranian assets and waive sanctions on its oil exports, Reuters reported, citing the draft terms.Meanwhile, Iran's nuclear programme will be discussed during a 60-day period of talks. Another US official said the agreement would ultimately result in the dismantling of Iran's nuclear programme, with the destruction and removal of its stockpile of highly enriched uranium.Araghchi, however, indicated that Iran would want to retain the uranium in diluted form.