Iran Oil Minister Mohsen Paknejad resigns: State media
President Masoud Pezeshkian accepted the resignation after months of pressure on oil revenues, and Hamid Bovard was named acting minister, state media said.
- On Sunday, October 4, 2026, Iranian Oil Minister Mohsen Paknejad resigned, and President Masoud Pezeshkian appointed National Iranian Oil Company CEO Hamid Bovard as acting oil minister.
- Serving since August 2024, Paknejad departed as the seven-month war between Iran and the United States strains the national economy.
- Shortly before his resignation, Paknejad said, "revenues of the oil that we have sold are still coming." Mehdi Tabatabaei, communications deputy in the president's office, stated Paknejad resigned for "personal reasons."
- President Pezeshkian accepted the resignation, with state media citing an official confirming that Bovard has been appointed as acting oil minister to maintain operational stability.
- Iran faces intense pressure from United States sanctions and a naval blockade, demanding the United States lift sanctions as part of negotiations over reopening the Strait of Hormuz.
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181 Articles
Secretary Bessent weighs in after Iran oil minister resigns
Bessent said the U.S. economic campaign against Iran is delivering results. He pointed to the free-fall of the value of the Iran's national currency, the rial, and the disruption in the transfer of crude oil over the past month.
Cedarnews.net. لمتابعة المزيد من أخبار والتقارير الحصرية، زورونا على موقعنا. While Iranian Oil Minister Mohsen Paknejad resigned for personal reasons, President Pezeshkian officially accepted the resignation. This is Cedarnews. للاطلاع على مزيد من الأخبار العاجلة والتقارير الحصرية، زوروا موقعنا الرسمي.
The spokesman-Review
Phil's Stock WorldIran’s oil minister resigns as exports dry up under US pressure
Iran’s Oil Minister Mohsen Paknejad resigned citing personal reasons, as the Islamic Republic tries to sustain its oil industry under a tightening U.S. blockade.
Turmoil in Tehran: Oil Minister Steps Down Amidst Growing Challenges
The resignation of Iran's oil minister highlights the increasing difficulties the regime faces due to persistent conflict with the U.S. and ongoing issues in the energy sector, raising concerns about stability.
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