After Prime Minister Mehdi Bazargan's resignation, the Revolutionary Council assumed responsibility for governing the country until the first presidential elections held on January 25, 1980. After Bani-Sadr's election as president, Khomeini appointed him chairman of the Revolutionary Council. The clerical camp, led by the members of the Islamic Republican Party (IRP), which dominated the Majlis, favored the Revolutionary Guards and a 'revolutionary' defence for the country. On October 2, 1981, Khamenei was elected the third president of the Islamic Republic. One of Khamenei's major missions during his presidency was to export Iran's Cultural Revolution. The coalition effort against Iran and the arms embargo placed Khomeini's regime under severe economic and political pressures. Khamenei's transformation of Iran's economic system involved the cooperative efforts of the Ministry of Industry, the Finance Ministry the Ministry of Trade, and the officials of the Economic Mobilization Campaign.