Amid a prolonged war with the US and mounting pressure on the economy, Iranian Oil Minister Mohsen Paknejad has resigned, state media reported on Sunday.
According to an official at the president’s office cited by state media, President Masoud Pezeshkian accepted Paknejad’s resignation and appointed Hamid Bovard, chief executive of the state-owned National Iranian Oil Company (NIOC), as acting oil minister.
Paknejad had served as oil minister since August 2024. State media did not give a reason for his resignation or indicate whether it was linked directly to the economic pressures created by the conflict.
The change comes as Iran’s vital oil industry faces growing pressure, with the war adding uncertainty around exports and government revenues.
Shortly before news of his resignation emerged, Paknejad sought to reassure the public about oil earnings, saying: “Revenues of the oil that we have sold are still coming and that will continue God willing.”
Bovard, who has led NIOC, will now oversee the ministry on an acting basis as Iran navigates mounting economic and energy challenges.
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