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Iran oil minister resigns as U.S. blockade squeezes crude exports

Masoud Pezeshkian accepted Mohsen Paknejad’s resignation and named National Iranian Oil Company chief Hamid Bovard as acting oil minister, Reuters reported.

Reported · Written up by our desk · Energy

Iran’s oil minister, Mohsen Paknejad, resigned after the U.S. blockade pushed the country’s crude exports and oil revenues toward zero, according to Reuters.

Iran’s President Masoud Pezeshkian accepted the resignation on Sunday and handed day-to-day control of the country’s most important industry to the head of the National Iranian Oil Company.

Pezeshkian appointed Hamid Bovard, the NIOC chief, as acting oil minister, Reuters reported.

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