Iran’s oil minister resigns as country’s economic crisis worsens
Departure comes amid large drop in oil receipts, rampant inflation and shrinking economy Iran’s oil minister has resigned days after allegations that an intermediary trust selling Iranian oil abroad owed millions of dollars’ worth of export receipts to the state. Mohsen Paknejad’s departure comes as Iran grapples with a dire economic situation, including inflation running at 85%.
An overall drop in oil receipts has led to a massive shortfall in foreign exchange earnings and one of the biggest drops in the value of the rial since the Iranian revolution in 1979.
Read in depth: Business
US diesel costs squeeze freight firms as New Zealand petrol tops NZ$4 a litre
Federal Reserve district accounts describe pressure on US trucking margins and grocery transport costs, while RNZ reports a sharp rise in New Zealand pump prices.
Tesla Roadster flight demonstration sparks memes and regulatory questions
Tesla showed an unoccupied Roadster leaving the ground at a Texas test facility. Online jokes followed, while aviation experts raised questions about operating such a vehicle.
Sources and context
The GuardianSource headline and summary supplied via NewsData.io. First collected by NewsJaws on 2026-10-06. This is an automated news brief, not original NewsJaws reporting. Dates reflect the source publication. Feed delays may apply.