Iran's Oil Minister Resigns Amid US Blockade of Iranian Oil Exports

Irans Oil Minister Mohsen Paknejad resigned for personal reasons, as the Islamic Republic tries to keep its oil industry running under an ever-tightening US blockade. President Masoud Pezeshkian accepted Paknejads resignation on Sunday after repeatedly rejecting the oil officials requests to step down, according to the official Islamic Republic News Agency. Pezeshkian appointed Deputy Oil Minister and managing director of the National Iranian Oil Co. Hamid Bovard as acting minister, according to the official Shana news agency. Bovard previously led various NIOC subsidiaries focused on oil and gas production and exploration. The new minister takes over an industry facing unprecedented pressure from the US, as Washington seeks to force a favorable end to its seven-month war with Tehran. A US naval blockade in the Persian Gulf has brought Irans oil exports a key source of revenue to a standstill, in turn forcing the industry to cut production. Iran is also facing gasoline and natural gas shortages, which the war has exacerbated.