Iran Appoints New Acting Oil Minister Amid US Sanctions Pressure

Paknejad's resignation as Iran's Oil Minister on Sunday marks a significant shift in the country's oil sector, which continues to face pressure from US sanctions. President Masoud Pezeshkian accepted Paknejad's resignation and appointed Hamid Bovard, CEO of the state-owned National Iranian Oil Company, as acting oil minister.

The move comes at a critical time for Iran's oil industry, with the country struggling to maintain its oil exports in the face of US sanctions. The appointment of Bovard, who has experience leading the National Iranian Oil Company, may help stabilize the sector and ensure continued oil production.