Iran oil minister resigns amid US economic pressure

Iran’s Oil Minister, Mohsen Paknejjad, has stepped down from his position, marking a significant shift in the country’s leadership amid escalating U.S. economic pressure. Hamid Bovard, the executive director of the National Iranian Oil Company (NIOC), has been appointed as the interim oil minister following Paknejjad’s resignation.

The resignation was announced by Iranian state media, which did not provide any specific reason for Paknejjad’s departure. Paknejjad had served as Oil Minister since August 2024, and his resignation comes at a time of heightened tensions between Iran and the United States, which have imposed economic sanctions on Tehran.

Iranian President Masoud Pezeshkian has accepted Paknejjad’s resignation and approved Bovard’s interim appointment. Prior to his resignation, Paknejjad had assured that oil revenues continued to flow into Iran and were expected to persist.