Iranian President Masoud Pezeshkian has defended the recent Iran-US memorandum, saying it offers the best path for Tehran to move beyond a state of “neither war nor peace.” Pezeshkian insisted that Iran had not backed down or surrendered in the agreement and said it was based on the country’s dignity, wisdom and national interest. Pezeshkian also linked the memorandum to Iran’s economic challenges, saying the country must reduce risks to attract investment. His comments come as Iran faces sanctions, difficulties exporting oil and tensions over the Strait of Hormuz, with Tehran and Washington still far apart on key issues.