Iranian President Masoud Pezeshkian has defended the memorandum of understanding with the U.S. as the best path for the country to move beyond what he described as a state of "neither war nor peace."

In a speech published by state-run IRNA early Sunday, he said 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 said. “The supreme leader sets the policies, and we will follow that path.”

The deal known as the Memorandum of Understanding that U.S. 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, vital to global shipping.