Iranian assembly selects son of slain cleric as new Supreme Leader, oil prices spike in US

Iran has officially announced Mojtaba Khamenei as the new Supreme Leader, succeeding his father, Ali Khamenei.

The elder Khamenei was killed on February 28, during US-Israeli strikes on the capital city of Tehran.

With this development comes the continued dominance of hardline factions within the country, amid escalating regional tensions and a recent surge in global oil prices, asserts a news piece by Reuters.

Ongoing conflict between Iran, the United States, and Israel, which has now entered its second week, has driven oil prices above $100 per barrel.

Mojtaba Khamenei, described as a cleric with significant influence within Iran’s security apparatus and extensive business interests under his father’s reign, was reportedly considered a leading contender prior to the vote. The Assembly of Experts, an 88-member body of clerics responsible for selecting Iran’s Supreme Leader, convened on Sunday to choose the successor.

Despite threats targeting the body, the assembly proceeded with the vote, declaring Khamenei “third Leader of the sacred system of the Islamic Republic of Iran,” shortly after midnight Tehran time.

Iran’s security chief, Ali Larijani, confirmed the meeting’s outcome on state television.

The new leader’s authority grants him the final say over all state matters in Iran. State media reports indicate that Iran’s armed forces have pledged their allegiance to Mojtaba Khamenei, and the Islamic Revolutionary Guard Corps issued a statement affirming their readiness to follow his directives.

The appointment is expected to provoke strong reactions from Western leaders, particularly U.S. President Donald Trump, who on Sunday expressed that Washington should have a say in Iran’s selection process.

“If he doesn’t get approval from us, he’s not going to last long,” Trump stated in an interview with ABC News.

The Reuters article indicated that Israel, prior to the announcement, threatened to target whoever was chosen as Iran’s new leader.

Amidst the turmoil, the U.S. military reported that a seventh American service member has died from wounds sustained during Iran’s retaliatory strikes a week ago. This comes a day after President Trump oversaw the return of the remains of six other U.S. soldiers killed in the conflict.

Intensifying hostilities have led to significant destruction in Tehran, with residents reporting thick black smoke over the city following strikes on Iranian oil storage facilities. Further reports of black acid rain have made the air “unbreathable”, said a young teacher as quoted by a Time article.

Meanwhile, in an interview with the Times of Israel, Trump chose not to comment directly on the appointment, merely stating, “We’ll see what happens.”

He also indicated that the resolution of the conflict would be a “mutual” decision with Israeli Prime Minister Benjamin Netanyahu.

The ongoing war has had a profound impact on global oil markets. According to Yahoo Finance, oil prices surged approximately 8%, reaching a peak of $119.50 per barrel — the largest single-day increase in dollar terms.

The highest record price was a little over $147 per barrel, which was recorded in July 2008.