Iran Replaces Oil Minister Amid U.S. Export Blockade
Iran's oil minister, Mohsen Paknejad, has stepped down and been replaced by Hamid Bovard, the CEO of the National Iranian Oil Company. The change was announced by the president's office in a statement on Sunday, following a blockade on Iran's oil exports by the United States.
State broadcaster IRIB reported that Paknejad initially offered his resignation due to personal issues, but it was initially rejected by President Masoud Pezeshkian. However, after the minister insisted on leaving, his resignation was accepted, and Pezeshkian commended his service.
The resignation comes amid heightened tensions in the Strait of Hormuz, a critical waterway for global oil and LNG shipments. Iran has been blocking commercial ships, while the U.S. has imposed a counterblockade on Iranian ports to prevent oil exports. Earlier in the conflict, Iranian cities faced fuel shortages due to economic pressure from Washington.