Mojtaba Khamenei has held the supreme leader position since his March 2026 election by the Assembly of Experts following his father Ali Khamenei’s death in a February US-Israeli airstrike. Iranian President Masoud Pezeshkian has repeatedly stated that Mojtaba is healthy, active in consultations, and directing policy despite his absence from public view amid security concerns tied to the ongoing conflict. Reports of internal discussions about a post-war succession exist, yet official actions including August 2026 IRGC and military command appointments indicate consolidation under the current leadership. Trader-implied probabilities for near-term change remain low, reflecting the wartime environment, constitutional processes, and absence of verified challenges or formal removal steps through mid-2027 resolution windows.