Mojtaba Khamenei was appointed Iran's Supreme Leader in March 2026 by the Assembly of Experts following U.S.-Israeli strikes that killed his father, Ayatollah Ali Khamenei. U.S. intelligence assessments indicate he was lightly to seriously wounded in the initial attacks, remains in an undisclosed secure location inside Iran, and communicates through couriers while avoiding public appearances or verified statements. Iranian authorities have denied reports of medical transfers abroad and continue to project leadership continuity amid the regional conflict, with no official signals of planned departures or diplomatic arrangements. Trader sentiment on any exit by mid-2026 deadlines reflects these security constraints, the absence of confirmed travel, and the regime's emphasis on internal stability during heightened tensions.