Iran Oil Minister Resigns Amid Economic Pressures from US Conflict
Iran’s Oil Minister Mohsen Paknejad has stepped down from his role, citing personal reasons. Hamid Bovard, the CEO of the National Iranian Oil Company, has been appointed as the acting minister following Paknejad’s resignation.
Paknejad had served in his position since August 2024, a tenure marked by significant challenges, including the ongoing seven-month conflict between Iran and the U.S. This war has placed considerable strain on Iran’s economy.
According to Mehdi Tabatabaei, communications deputy in the president’s office, Paknejad’s resignation was submitted “a long time ago” and was accepted by President Masoud Pezeshkian at Paknejad’s insistence.
Prior to the announcement of his resignation, Paknejad had reassured the public that oil revenues would continue to flow, stating, ‘revenues of the oil that we have sold are still coming and that will continue God willing.’