Reza Pahlavi, the exiled son of Iran's last shah, has publicly stated his intent to return to Iran as soon as conditions permit, even to a liberated area short of full regime change, citing potential to encourage defections and accepting calculated risks. Recent protests in late 2025 and early 2026 against economic pressures and the Islamic Republic's rule amplified his visibility and calls for continued action, yet authorities suppressed the unrest without triggering widespread defections or territorial shifts. As of mid-2026, the regime maintains control over key institutions and borders, creating substantial security and logistical barriers to any entry. Trader assessments reflect these structural constraints alongside Pahlavi's limited on-the-ground network after decades abroad, while noting that major escalations in domestic unrest or diplomatic shifts could alter timelines.