US and Iran are close to a peace deal memorandum, with Geneva likely as venue, as talks include ceasefire, sanctions relief and oil market impact.

The US president has again claimed a deal to end the war is close, but Iran countered that it had not reached a final decision on an agreement.

The US vice-president is expected to take part in the signing ceremony if it goes ahead

US president says agreement close as Strait of Hormuz tensions linger

US and Iran approach a peace deal on reopening the Strait of Hormuz ahead of the G7 summit next week.

US and Iran are close to a peace deal memorandum, with Geneva likely as venue, as talks include ceasefire, sanctions relief and oil market impact.