Mojtaba Khamenei assumed Iran’s supreme leadership in March 2026 after his father Ali Khamenei’s assassination in late-February U.S.-Israeli strikes. He has since remained inside the country, reportedly recovering from injuries sustained in those attacks and sheltering in secure sites such as Qom, with no public appearances or confirmed departures. Iranian officials and foreign diplomats, including Russia’s envoy, have described him as present but limiting visibility for security reasons amid ongoing regional hostilities. Absent new escalations, health developments, or regime decisions that would require relocation, trader expectations reflect continuity of his domestic position.