Mojtaba Khamenei’s appointment as Iran’s Supreme Leader in early March 2026, following his father Ali Khamenei’s death in U.S.-Israeli strikes, has been marked by a sustained absence from public view. Only written statements attributed to him have been read on state television, with no video, audio, or in-person appearances confirmed through June 2026. Reports cite wartime security concerns, possible injury or medical treatment, and deliberate low visibility as factors, echoed by diplomatic commentary noting he remains in Iran but is refraining from events “for understandable reasons.” This pattern persists amid ongoing regional conflict, with traders assessing whether institutional caution, health constraints, or regime strategy will delay any appearance until specific milestones or de-escalation occur. Upcoming diplomatic or religious observances within the market window could serve as catalysts.