Iran's Oil Minister Resigns Amid Pressure from US Sanctions

A key figure in Iran's oil industry has resigned amid intense pressure from US sanctions and a naval blockade. Iran's Oil Minister Mohsen Paknejad, who held the position since August 2024, stepped down for personal reasons. According to state media, his resignation was accepted by President Masoud Pezeshkian at Paknejad's insistence.

Paknejad had previously stated that oil revenues from sales were still coming in, despite the difficulties faced by Iran's oil exports. The country has been demanding that the US lift sanctions on its oil sales and end the naval blockade as part of negotiations to reopen the Strait of Hormuz.