Iran oil minister resigns, Bovard appointed acting minister

Iranian Oil Minister Mohsen Paknejad has resigned and President Masoud Pezeshkian has accepted his resignation, Mehdi Tabatabaei, deputy head of the presidential office’s communications department, said on Sunday, according to the semi-state news agency Tasnim. Tabatabaei said Paknejad had formally submitted his resignation and that Hamid Bovard, chief executive of the state-owned National Iranian Oil Company, had been appointed acting oil minister to run the ministry in the coming period. The resignation comes as the United States imposes unprecedented sanctions on Iran, particularly targeting its oil sector, although no reason was given for Paknejad’s resignation. US Treasury Secretary Scott Bessent said on Saturday that Iran no longer had any oil floating at sea and would earn no revenue from oil […]