Iranian Oil Minister resigns / U.S. blocks Iran’s hydrocarbon exports

Iranian Oil Minister Mohsen Paknejad resigned on Sunday amid the naval blockade imposed by the United States on Iranian ports, a measure that is preventing the country's hydrocarbon exports.

The office of Iranian President Massoud Pezeshkian announced that Paknejad's resignation had been accepted after the minister had reportedly repeatedly insisted on stepping down. He had initially submitted his resignation for personal reasons, but it had been rejected.

Hamid Bovard, director general of the National Iranian Oil Company, was appointed interim Oil Minister by presidential decree. The change comes at a critical moment for Iran's energy sector, which has been affected by trade and military restrictions.

Following the Israeli-American attack at the end of February, which triggered the war in the Middle East, Iran severely restricted the navigation of commercial vessels in the Strait of Hormuz. Previously, approximately one-fifth of global hydrocarbon flows passed through this strategic route.

In response, the United States imposed a blockade on Iranian ports and intensified sanctions.