ERBIL, Kurdistan Region of Iraq – Iranian President Masoud Pezeshkian on Friday said Iran should seek to end its war with the US while it retains the upper hand, arguing that the country is in a position to secure an outcome it can claim as a victory.

“It is better to end the war today, when we are in power, and the whole world acknowledges our victory and America is hated in the world,” Pezeshkian said during a speech reported by Iran’s semi-official Fars news agency.

Iran has responded to the US attacks on its soil by restricting navigation through the vital Strait of Hormuz, in addition to targeting US interests across the Middle East. The blockade on the vital waterway, where one-fifth of the entire world’s oil supply is transported, has dealt a major blow to the global economy.

The US has repeatedly called for the strait’s reopening, as Gulf countries struggle to export oil through the chokepoint.

The Iranian president hailed the memorandum of understanding (MoU) he signed with US President Donald Trump remotely in June as “a major accomplishment,” saying not a “single clause” in the agreement “indicates capitulation, all the commitments are on the other side.”

The deal, signed on June 18, set a 60-day period for negotiations toward a final peace deal. After 21 days, however, the deal fell apart as both sides targeted each other’s interests in the region.

“There is no virtue greater than honoring a pact, which unfortunately we often disregard,” the Iranian president said.

Iran’s foreign ministry said Monday that the June MoU was no longer relevant after Washington allegedly violated its terms, rejecting the idea that a 60-day negotiation period could still be extended.

Iranian Foreign Minister Abbas Araghchi also said Saturday that there is no ceasefire with the US to extend, rejecting reports that Tehran and Washington had agreed to prolong the 60-day negotiation period.

The US-Israeli war on Iran began in late February, with Washington maintaining that the offensive was intended to eliminate Iran's nuclear capabilities and impose limits on its missile program.