Reza Pahlavi continues to operate from exile while publicly stating readiness to return to Iran as soon as conditions allow, including potentially before or immediately after any regime transition. Recent Iranian protests tied to economic strain and political dissatisfaction have kept opposition activity visible, yet no confirmed security protocols or logistical arrangements for his entry have emerged. His statements focus on preparing a transitional governance structure rather than an immediate physical return under the current authorities, and markets reflect low near-term probabilities absent verifiable regime change or major diplomatic shifts within the coming months.