Iranian president defends MOU with Trump as best way out of war, economic morass

Iranian President Masoud Pezeshkian says the memorandum of understanding with the US was the best way for the country to move beyond what he describes as a situation of “neither war nor peace.”

In a speech published by state-run IRNA early on Sunday, he says members of Iran’s Supreme National Security Council believed the memorandum represented the best possible agreement based on what he described as dignity, wisdom and the national interest.

“There is not a single provision in this agreement that amounts to capitulation,” Pezeshkian says. “The supreme leader sets the policies, and we will follow that path.”

The deal known as the memorandum of understanding that US President Donald Trump signed in June set an ambitious 60-day deadline for ending the war with Iran and reaching an accord on its nuclear program. That period ended last week, but the two sides remain far apart, with no signs of compromise on the crucial issue of reopening the Strait of Hormuz, which is vital to global shipping.

While stressing that Tehran does not intend to back down in the face of its adversaries, Pezeshkian links the agreement to Iran’s economic prospects, saying the country cannot attract investment in this stalled phase.

“Capital and money are extremely sensitive to risk,” he says. “We have to remove this risk from the country.”

The Iranian economy is suffering under sanctions and a naval blockade that is making it extremely difficult for the country to export oil, its most valuable product.