The United States and Iran are set to sign a memorandum of understanding virtually on Sunday to end the ongoing war. The electronic signing, attended by mediators from Pakistan and Qatar, is expected to help restore regional stability and bring balance to the global energy market. The agreement will extend the ceasefire by 60 days, reopen the strategically vital Strait of Hormuz, and initiate formal discussions on Iran’s nuclear program.

The deal follows nearly three months of negotiations mediated by Pakistan, Qatar, Egypt, and Turkey. U.S. Vice President JD Vance is leading the American delegation, with the virtual format chosen to allow him to return to the U.S. before President Donald Trump’s trip to France. Pakistan’s Prime Minister Shehbaz Sharif confirmed preparations for the electronic signing and said technical-level talks would begin next week.

President Trump stated that the Hormuz Strait would reopen immediately after the signing and warned that if the agreement is not implemented smoothly, he may resort to military action. The upcoming G7 summit in France will also feature discussions on the deal and post-war regional arrangements.