geopolitical risk: Saudi King Salman's health, Iran President Raisi's death spur succession bets

The death of Iranian President Ebrahim Raisi has not significantly altered the regime's trajectory, with little hope for political reform or reduced hostility towards the US and its allies, according to Western officials. The focus has shifted to succession planning, especially given the aging Supreme Leader Ayatollah Ali Khamenei. However, Iran's detente with Saudi Arabia is expected to continue, as is its support for regional proxies. In Saudi Arabia, Crown Prince Mohammed bin Salman's ascension to the throne is expected to maintain continuity in oil policy and regional relations.

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