Reza Pahlavi continues to operate from exile, focusing public statements and diplomatic outreach on accelerating regime change rather than securing immediate entry under the current Iranian government. In April 2026 he held a Berlin press conference urging European governments to end negotiations with Tehran, while May interviews reiterated calls for U.S. support of internal transition. Iran’s Supreme National Security Council convened in late April to address potential opposition-linked unrest amid economic pressure and naval tensions. Pahlavi has repeatedly signaled readiness to return only after the Islamic Republic’s collapse or during a verified transitional phase, with no public confirmation of security arrangements, airport access, or regime approval. Traders therefore price low probabilities on near-term entry, reflecting the absence of regime collapse or diplomatic openings that would enable physical return before scheduled resolution dates.