Iranian President Masoud Pezeshkian said Tuesday that Tehran would immediately reciprocate if the US returned to its commitments under the Islamabad Memorandum of Understanding, according to the presidency.
"I state clearly that if the United States returns to its commitments under the memorandum, the Islamic Republic of Iran will immediately reciprocate," Pezeshkian said in an address to the 26th summit of the Shanghai Cooperation Organization (SCO) in Kyrgyzstan's capital Bishkek.
He accused Washington of failing to honor the agreement less than two weeks after signing it, saying US violations were met with a proportionate response from Tehran.
Pezeshkian said the agreement came after 40 days of fighting and nearly three months of negotiations mediated by Pakistan and Qatar.
He claimed the US was forced to agree to a ceasefire after failing to achieve its objectives during the conflict.
The memorandum was reached in June following mediation by Pakistan and Qatar after the Iran-US military conflict. The agreement included provisions concerning an end to hostilities, the Strait of Hormuz and further negotiations between Tehran and Washington.
Turning to the SCO, Pezeshkian proposed establishing a bank, creating an export insurance and investment union, and forming an energy consortium as three measures to strengthen the organization's role, according to the presidency.
The SCO summit brings together leaders of its 10 member states to discuss regional security as well as political and economic cooperation.
Founded in 2001, the SCO comprises Belarus, China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan. Iran became a full member in 2023.
