Mojtaba Khamenei was appointed Iran's Supreme Leader in March 2026 following the assassination of his father, Ali Khamenei, in the opening phase of the 2026 Iran conflict with the United States and Israel. He has remained in the country since, issuing public statements on regional policy, the Strait of Hormuz, and retaliation while meeting senior officials including the president; his location is kept secret amid security concerns and unconfirmed reports of prior injury. As the clerical establishment's choice to consolidate power during active hostilities, no verified departures, exile plans, or extended absences have occurred. Trader consensus reflects these structural realities, with the low implied probability of departure by late June 2026 tied to his central role in wartime decision-making and regime continuity. Any shift would likely require major diplomatic or military developments altering his position.