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.

Pezeshkian also linked the agreement to Iran’s economic prospects, saying the country could not attract investment in this stalled phase.

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

Nearly six months into the war with the United States and Israel, the Iranian economy is suffering under sanctions and a naval blockade.

Meanwhile, the hard-line new leader of Iran’s Supreme National Security Council warned Tehran’s neighbors against joining the new U.S. effort to hurt Iran’s economy.

“If (Trump) wants to do something, we will retaliate in a seismic manner,” Mohsen Rezaei said in an interview with the state broadcaster that aired Saturday.

Rezaei was named this month as part of senior appointments widely seen as hardening Tehran’s political and military stance. His interview with IRIB is his most extensive public statement since then.

He said Iran would target oil-shipping routes out of the Persian Gulf, alternatives to the Strait of Hormuz, if neighbors join what he described as the economic war against Iran.

Trump in the past week has vowed to increase Iran’s pain by imposing an “unprecedented” level of economic warfare and isolation. Iran has lived under sanctions for years.

In other developments, Pakistan’s Field Marshal Asim Munir will lead an official delegation traveling to Tehran Monday, Iranian state television reported, citing Iran's Foreign Ministry spokesman, Esmail Baghaei.

Baghaei said the visit aims to strengthen bilateral cooperation between Iran and Pakistan and continue Pakistan’s work to promote peace and security in the region.

Two regional officials said the visit was part Islamabad’s ongoing efforts to de-escalate tensions between the United States and Iran, and urge both countries to return to the negotiating table. The officials spoke on condition of anonymity because they were not authorized to discuss the matter publicly.

The trip announcement came after a phone call between Munir and Iranian Foreign Minister Abbas Araghchi. There was no immediate comment from Pakistan, which has led several mediation efforts to end the Iran war.

Munir has made several visits to Iran since Prime Minister Shehbaz Sharif assigned him to help defuse tensions between the United States and Iran.