Mojtaba Khamenei was selected by Iran's Assembly of Experts as supreme leader in early March 2026 following the assassination of his father, Ali Khamenei, in U.S.-Israeli strikes that initiated a broader regional conflict. He has issued only written statements through state media and has made no public appearances, fueling reports of serious injuries sustained in the attacks and his confinement to secure, undisclosed locations inside Iran. The Islamic Revolutionary Guard Corps has played a central role in stabilizing the transition, while health-related travel abroad remains unconfirmed and politically sensitive given the wartime environment. These factors have shaped trader assessments around any near-term departure.