Icelandic filmmaker Baltasar Kormakur is in early talks to direct history drama Reykjavik, The Hollywood Reporter said.

The film is about the 1986 Reykjavik Summit between U.S. president Ronald Reagan and Soviet leader Mikhail Gorbachev. The meeting signaled the end of the Cold War.

Amid the threat of nuclear war, their talks collapsed. But the time the two leaders spent together and the convictions they shared ultimately ensured peace and helped form a friendship between them.

Michael Douglas is set to play Reagan, with Christoph Waltz portraying Gorbachev.

"I am only in very early talks," Kormakur told THR. "Nothing has been confirmed." Mike Newell was previously set to direct the project.

Kormakur is currently in Iceland, editing Everest. The Paramount Pictures film stars Josh Brolin and Jake Gyllenhaal.

‎Kormakur previously directed crime drama Contraband, starring Mark Wahlberg and Kate Beckinsale, and fisherman survival drama The Deep.