Live updates: Iran’s slain leader buried after days of strikes rock Middle East

Key Points:

• Since its establishment in 1979, Iran’s Islamic Republic has centered power around the Supreme Leader, initially Ruhollah Khomeini and then Ali Khamenei, who maintained tight control over political and economic networks.
• Following Khamenei’s death, his absence—highlighted by his son Mojtaba Khamenei missing the funeral—raises questions about who currently holds real power in Iran, potentially destabilizing the regime’s traditional centralized governance.
• The blockade of the Strait of Hormuz after US-Israeli strikes led to a sharp increase in war insurance premiums for ships, with rates rising from 0.25%-0.5% to as high as 10% of vessel value, reflecting heightened geopolitical risks.
• US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu agreed to continue coordinated efforts regarding the Gulf tensions, while behind-the-scenes diplomacy aims to manage and de-escalate the conflict despite ongoing military readiness.
• US forces aboard the USS Abraham Lincoln are prepared for potential strikes in the region, conducting routine fighter jet missions, though officials emphasize that recent Iranian claims of increased US attacks are inaccurate and diplomacy remains the priority.