Iranian oil minister quits, replaced by oil executive

Iranian President Masoud Pezeshkian initially refused the resignation of his oil minister, Mohsen Paknejad, but Paknejad insisted on leaving his position. The Iranian president's office announced Paknejad's resignation on Sunday, following the reinstatement of Hamid Bovard, CEO of the National Iranian Oil Company, as acting Minister of Oil, as per a decree from the president.

State television aired an interview with an official from the Iranian presidential office who stated that Paknejad had offered his resignation due to personal issues, but this was rejected. President Pezeshkian commended Paknejad's efforts and sincere service after accepting his decision to quit. The Strait of Hormuz, a critical waterway in the Middle East, has been a focal point of the ongoing conflict, as it is responsible for a fifth of the world's oil and liquefied natural gas (LNG) trade.

Iran has been blocking the passage of commercial ships, firing on vessels it claims have unauthorized crossings. In response, Washington has enacted a counterblockade of Iranian ports to prevent Tehran from exporting its oil. The conflict escalated earlier, causing queues at petrol stations in Tehran and other Iranian cities as the US attempted to cripple the country's economy.