**Mojtaba Khamenei, appointed Iran’s Supreme Leader in March 2026 following the February 28 US-Israeli strike that killed his father Ali Khamenei, has remained absent from public view amid reports of serious injuries sustained in the same attack.** Iranian officials cite security threats from potential assassination attempts as the primary reason for his seclusion, with communications limited to written statements. Most credible reporting places him in a secure location inside Iran, likely Tehran or a protected shelter, rather than abroad; earlier rumors of transfer to Russia for treatment have been denied by diplomatic sources. Persistent speculation about his health or death has circulated among regime insiders and analysts through August 2026, but US officials have assessed him as alive though limited in capacity. These factors—ongoing regional tensions, internal power dynamics involving the IRGC, and the absence of verified exit reports—shape trader views on the low likelihood of departure by near-term deadlines absent a major escalation or confirmed medical evacuation.