Iranian Oil Minister Resigns Amid US Export Blockade

Iranian Oil Minister Mohsen Paknejad has stepped down from his position, and Hamid Bovard, the CEO of the National Iranian Oil Company (NIOC), has been appointed as his temporary replacement. The presidential office announced the change in a statement carried by state broadcaster IRIB, noting that President Masoud Pezeshkian accepted Paknejad’s resignation after the minister insisted on leaving.

Paknejad had previously offered his resignation due to personal reasons, but Pezeshkian had initially rejected the request, asking him to remain in office. The presidential official praised Paknejad’s efforts and service before his departure. Bovard will now lead Iran’s oil ministry during a critical period, as the country faces a US blockade on its oil exports.

The Strait of Hormuz, a key route for global oil and gas shipments, has become a focal point in the ongoing Middle East conflict. Iran has restricted vessel passage and targeted ships it accused of unauthorized crossings, while the US has imposed a counterblockade on Iranian ports and oil exports. These measures have disrupted Iran’s economy, leading to fuel shortages and long lines at petrol stations in Tehran and other cities.