Iran’s Foreign Ministry declared it will continue pursuing justice against American and Israeli officials following the funeral of Ayatollah Ali Khamenei, the supreme leader killed during US-Israeli airstrikes on February 28, 2026. His death, confirmed by Iranian state media on March 1, represents one of the most consequential geopolitical events in decades, and its ripple effects have reached deep into crypto markets.
Massive funeral processions commenced on July 3-4, with ceremonies planned across Tehran, Qom, and Mashhad. Burial is scheduled for July 9. Estimates suggest up to 20 million mourners participated in memorial events across Iran’s major cities and parts of Iraq.
A leadership vacuum, quickly filled
Khamenei was 86 years old at the time of his death. His killing triggered an immediate leadership transition inside Iran, beginning with the formation of an Interim Leadership Council. That council has since given way to a more permanent arrangement: Mojtaba Khamenei, the late supreme leader’s son, was appointed as the new Supreme Leader.
Iranian officials have issued warnings against foreign military actions in the Strait of Hormuz during the funeral period. Roughly 20% of the world’s oil passes through that chokepoint.
