Iran's Oil Minister Resigns Amid US War Economic Strain
Iran's Oil Minister Mohsen Paknejad has stepped down from his post, citing personal reasons. The resignation comes amid heightened economic pressures on Iran due to the ongoing seven-month war with the United States. Hamid Bovard, the CEO of the National Iranian Oil Company, has been named acting minister following Paknejad's departure.
The resignation was formally accepted by President Masoud Pezeshkian after Paknejad insisted on it, according to Mehdi Tabatabaei, communications deputy in the president's office. Tabatabaei noted that Paknejad had decided to resign 'a long time ago' but the timing was not specified. Before the announcement, Paknejad had assured state media 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.'
Paknejad had served as Iran's oil minister since August 2024, a role that placed him at the center of the country's economic strategies amid international tensions. The transition of power to Bovard, a key figure in Iran's state-run oil sector, suggests continuity in the country's energy policies during this turbulent period.