Mojtaba Khamenei was appointed Iran's Supreme Leader in March 2026 by the Assembly of Experts shortly after his father Ali Khamenei's assassination in U.S.-Israeli strikes during escalated regional conflict. He has since remained inside the country, operating from an undisclosed secure location with no verified public appearances, audio-visual statements, or departures confirmed by credible reporting. Iranian state media continues to project leadership continuity through read statements, while U.S. intelligence assessments note possible injuries from the initial attacks and reliance on internal couriers. Ongoing tensions and regime structures have prioritized internal consolidation over any exit, with no diplomatic arrangements or scheduled events signaling a change. These factors underpin the prevailing trader assessment of limited likelihood for departure by near-term resolution dates.