Trump Claims Iranian Economic Collapse Amid Strait of Hormuz Oil Surge

Trump’s assessment of Iran’s financial health—citing 300 percent inflation and a total lack of resources—coincides with the departure of Oil Minister Mohsen Paknejad. While the White House paints the resignation as a symptom of state failure, local reports suggest internal friction. President Masoud Pezeshkian has appointed Hamid Bovard, former CEO of the National Iranian Oil Company, as interim minister following Paknejad’s exit.

Internal discord within the Iranian administration reportedly stems from clashes over the management of the Persian Gulf Petrochemical Industry Commercial Company and the mishandling of a vast network of oil traders. These intermediaries have allegedly failed to return over $10 billion in oil export proceeds. Despite these domestic troubles, maritime intelligence firm Kpler indicates that Gulf oil exports, excluding Iran, have stabilized, recovering to over 81 percent of pre-war levels by September.