A veteran Christian leader is set to fill Lebanon's long-vacant presidency under a deal that underlines the ascendancy of the Iranian-backed Hezbollah movement and the diminished role of Saudi Arabia in the country.

It appears all but certain that Michel Aoun will become president next week under an unlikely proposal submitted by Sunni leader Saad Hariri, whose Saudi-backed coalition opposed Hezbollah for years.

Parliament will likely elect Aoun on Oct. 31. This will end one element of a paralyzing political crisis: the 29-month-long presidential vacuum.