The interim peace deal would see the U.S. and Iran extend their ceasefire by around two months.

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

The U.S. and Iran are edging closer to signing an agreement to reopen the Strait of Hormuz as the G7 leaders are set to meet. Read more.

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.