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The deal follows weeks of mixed messaging from both Washington and Tehran on the trajectory of the conflict.
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President Trump said the U.S. would remove its blockade of the Strait of Hormuz.
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An initial deal to end the war and open the Strait of Hormuz was expected to be signed this week.
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British armed forces intercepted a sanctioned Russian shadow fleet oil tanker in the Channel on Sunday, leading for the first time an operation to disrupt the oil revenue ?that helps fund Russia's war in Ukraine.
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The gathering was originally expected to be a meeting focused on a variety of separate economic and security issues.
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President Trump said it would be signed on Sunday, but Iran's Foreign Ministry cautioned that the timeline could be slower.
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