Iranian Oil Minister Resigns

Iranian Oil Minister Mohsen Paknejad has resigned, Deputy Head of the Presidential Administration for Communications and Information Mehdi Tabatabai said on X.

Iranian President Masoud Pezeshkin accepted Paknejad's resignation and appointed Hamid Borda as acting oil minister.

The reason for Paknejad’s resignation is not specified.

In the decree, Pezeshkin referred to Article 135 of the Iranian Constitution, as well as Borda’s commitment, competence and managerial experience.

Bord served as Managing Director of the National Iranian Oil Company (NIOC).

In September, for the first time since the beginning of the conflict with the United States, Iran did not load a single shipment of crude oil on tankers. Supplies to some Chinese refineries continued from stocks in floating storage facilities.

In June, the United States and Iran signed a memorandum on the cessation of hostilities, lifting the blockade and restoring navigation through the Strait of Hormuz. In July, the sides resumed the exchange of strikes, and the US military again imposed a naval blockade of Iran. In late September, US President Donald Trump rejected an Iranian plan to resume shipping through the Strait of Hormuz.