Michael Douglas is in discussions to portray former Republican U.S. President Ronald Regan in upcoming Cold War movie, ‘Reykjavic.’

Set in the aftermath of the Chernobyl Disaster, as the world teeters on the brink of nuclear war, ‘Reykjavic’ recounts the pivotal days in 1986 when the American President met with Soviet leader Mikhail Gorbachev to negotiate a peace agreement and achieve nuclear disarmament.

British director Mike Newell, who is best know for directing ‘Harry Potter and the Goblet of Fire’ is set to take the helm alongside producers Sir Ridley Scott and David Zucker. Producers are yet to confirm who will portray Mikhail Gorbachev.

The $10 million political drama is due to shoot in Germany during March 2013.

Since entering remission for throat cancer, Douglas has been hard at work. The Oscar-winning actor is currently shooting ‘Behind the Candelabra,’ a biopic that focuses on the life of pianist Liberace and his relationship with lover Scott Thorson (Matt Damon).