The most accurate description is a de facto IRGC-led collective leadership with the following characteristics:
Mojtaba Khamenei is almost certainly alive but severely incapacitated — whether from unhealed combat wounds, a secondary health crisis, or both. The Islamic Republic remains functional, but it is now governed collectively by IRGC commanders and security hardliners, with the supreme leader reduced to a ceremonial figurehead whose signature is still sought on paper but whose physical presence has not been verified in over five months.
The most accurate description is a de facto IRGC-led collective leadership with the following characteristics:
Mojtaba Khamenei is almost certainly alive but severely incapacitated — whether from unhealed combat wounds, a secondary health crisis, or both. The Islamic Republic remains functional, but it is now governed collectively by IRGC commanders and security hardliners, with the supreme leader reduced to a ceremonial figurehead whose signature is still sought on paper but whose physical presence has not been verified in over five months.