Masoud Pezeshkian, elected in 2024 as Iran's reformist president, continues to hold office amid the ongoing U.S.-Israel conflict that began with strikes in late February 2026 and the assassination of Supreme Leader Ali Khamenei. Recent developments include his first documented meeting with successor Mojtaba Khamenei in May 2026 to project leadership unity, alongside repeated public statements outlining conditions for ending hostilities such as recognition of nuclear rights, reparations, and security guarantees. Domestic pressures persist from economic inflation and past parliamentary warnings of cabinet impeachments, as well as unconfirmed reports of internal frictions with IRGC commanders. These factors shape trader assessments of removal risks through resignation, impeachment, or other exits before scheduled term completion in 2028, while scheduled diplomatic contacts and conflict developments remain key variables that could shift probabilities.