What We're Watching

Iranian majority votes to ignore election, leading to runoff

​Iranian women queue to vote at a polling station in a snap presidential election to choose a successor to Ebrahim Raisi following his death in a helicopter crash, in Tehran, Iran June 28, 2024.
Iranian women queue to vote at a polling station in a snap presidential election to choose a successor to Ebrahim Raisi following his death in a helicopter crash, in Tehran, Iran June 28, 2024.
Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
Iran held a presidential election on Friday to replace President Ebrahim Raisi, who was killed in a helicopter crash in May, with voters choosing between four regime-approved candidates, including a “reformist” and three hardliners. None secured a majority, which means voting heads into a second round for the two candidates with the most votes: reformist Masoud Pezeshkian and ultraconservative Saeed Jalili.

Low voter turnout was expected, and many believed Pezeshkianwould come in first but fail to win the 50% majority needed to prevail outright. Experts like Eurasia Group analyst Gregory Brew anticipated that Pezeshkian would then meet either Jalili or Mohammad Baqer Qalibaf in a runoff.

“Events bore out this expectation,” says Brew, “but with a few interesting twists.” First, voter turnout was even lower than feared – at just 40%. Second, Jalili and Qalibaf combined only won 13 million votes, far less than the 19 million Raisi had in 2021.

Round two looms. If Jalili wins in the second round on July 5, he would simply be another ideological hardliner hostile to the West with “retrograde views on important social issues.” This, says Brew, will ensure “dissatisfaction with the regime increases among ordinary Iranians.”

Pezeshkian would be weak and be easy for the regime to undermine, Brew explains, but “the Supreme Leader has always distrusted and feared the reformists and it’s hard to see him tolerating a reformist president, especially with a succession so close.”

In fact, neither candidate is ideal for the regime’s leadership. “While Jalili is ideologically suitable,” says Brew, “he doesn't appear to have much support from inside the regime.”

Still, one of them will prevail. “I'd say that the odds favor Jalili right now, especially as turnout is going to be even lower next week than it was for Friday's election,” says Brew, noting that if voters do align with Pezeshkian, it would just be to prevent a Jalili government.

More For You

US President Donald Trump listens to a question from a reporter prior to signing an executive order on AI next to Sriram Krishnan, Senior White House Policy Advisor on Artificial Intelligence, US Sen. Ted Cruz (R-TX), US Commerce Secretary Howard Lutnick, and David Sacks, chair of the President's Council of Advisors on Science and Technology, in the Oval Office at the White House in Washington, D.C., USA, on December 11, 2025.

REUTERS/Al Drago

Artificial intelligence and Donald Trump's foreign policy are creating huge tail risks for markets.

Last week, Microsoft released a new report offering an in-depth look at AI adoption across the United States, with state- and county-level insights for the first time. While more than 30 percent of working-age Americans now use AI tools, adoption remains uneven across regions, with significantly higher usage in urban areas and communities tied to universities. The findings point to a broader challenge: without stronger access to infrastructure, skills, and education, AI’s benefits risk remaining concentrated rather than broadly shared. Read the full blog here.

A demonstrator holds a Kenyan flag during a protest against a US-backed Ebola quarantine plan on the establishment of a 50-bed facility at a Kenyan air force base that was intended to host Americans exposed to Ebola, in Nanyuki town, in Laikipia County, Kenya June 1, 2026
REUTERS/John Muchucha

Hundreds took to the streets in Kenya after the US announced plans to build an Ebola quarantine center on a Kenyan air base, with protesters warning the facility risks introducing a disease the country has never recorded. President Ruto is defending the project.