Iran's reformist president Masoud Pezeshkian, who took office in July 2024 for a four-year term ending in 2028, remains in position amid the U.S.-Israel conflict that escalated in March 2026. Trader positioning on removal timelines reflects the wartime environment, where Pezeshkian has issued public statements on ceasefire terms, guarantees against renewed strikes, and diplomatic outreach through mid-2026. Internal regime frictions, including reported rifts and leadership tensions highlighted in June 2026 coverage, add uncertainty around hardliner influence and Supreme Leader oversight. No scheduled elections or constitutional triggers fall within typical near-term resolution windows, though ongoing military developments or shifts in coalition dynamics could alter continuity before the 2028 cycle.