President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian were among those who died in a helicopter crash on Sunday.
Raisi, 63, won the presidency on a record-low turnout in a poll that mostly excluded reformists and veteran politicians.
He entered office pledging to end efforts to build trade ties with the West and instead focus on developing links with China and Russia.
His presidency ended a period in which the foreign ministry was led by multilingual diplomats who favoured better relations with the US and stronger trade with Europe.
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Who Will Take Over After Raisi?
Following his death, the first vice president Mohammad Mokhber will likely take over temporarily until an election can be held.
Appointed in 2021, Mokhber has been directly sanctioned by the US for running the country’s wealthiest state-managed endowment, the Execution of Imam Khomeini’s Order.
The death of Iran’s president and foreign minister in a helicopter crash on a remote mountainside comes at an especially fraught moment in the Middle East – and for Iran domestically.
Oil Market Outlook
The oil market seems largely unaffected by the news coming out of Iran. Global benchmark Brent is trading slightly higher, but still below $85 a barrel as reported by Bloomberg.
There are no signs so far that this incident will lead to supply disruptions or a change in policy.
