Iran Appoints Hamid Bovard Acting Oil Minister After Mohsen Paknejad Resigns Under Blockade

Iranian President Masoud Pezeshkian appointed National Iranian Oil Company head Hamid Bovard as acting oil minister following the abrupt resignation of Mohsen Paknejad. The leadership change comes amid acute economic strain caused by a U.S. Navy blockade that triggered a complete halt in domestic crude loadings in September, the first since 1979. The U.S. Treasury reported zero Iranian oil shipments remaining at sea, projecting no export revenues for the week. Domestically, Iran faces a daily gasoline deficit of 10 million liters and inflation exceeding 70%, with the rial sinking to record lows.