According to media reports, an Iranian businessman is said to have built up a property empire in Europe, including luxury hotels in Germany. Traces of the company are now reported to lead to Mojtaba Khamenei, the son of the slain Supreme Leader Ali Khamenei, who could become his successor.

Following the death of Ayatollah Ali Khamenei, the succession at the head of the Islamic Republic remains unresolved. No new Supreme Leader has been formally named, but behind the scenes, Mojtaba Khamenei, 56, has emerged as the frontrunner. He has never run for office or been subjected to a public vote but has long been a highly influential figure within the inner circle of the Supreme Leader, cultivating close ties to the Islamic Revolutionary Guard Corps (IRGC).

Critics have cautioned that a father-to-son succession would be politically sensitive. Reports suggest Ali Khamenei himself opposed the idea, with a source close to his office telling Reuters in 2024 that he did not want to witness a return to hereditary rule, which many Iranians view as undermining the 1979 revolution that overthrew the US-backed monarchy of Shah Mohammad Reza Pahlavi.

Mojtaba Khamenei is also reported to control a substantial overseas property network. A year-long Bloomberg investigation found that he directs a significant European real estate portfolio through intermediaries, with no assets appearing directly in his name. The holdings reportedly include luxury London properties, a villa in Dubai, and high-end hotels in Frankfurt and Mallorca, with funding routed primarily from Iranian oil revenues through financial institutions in the UK, Switzerland, Liechtenstein, and the UAE via shell companies.

A key asset identified is the Hilton Frankfurt Gravenbruch, a five-star hotel in Germany’s financial hub. Corporate filings indicate the hotel has been owned since 2011 through entities tied to Iranian businessman Ali Ansari and was brought under Hilton’s management in 2024. Frankfurt officials have questioned how Iran-linked capital entered the city’s hospitality sector.

Ansari, a construction magnate sanctioned by the UK in October 2025, is said to act as a liaison for Khamenei’s son. He has denied connections to the IRGC or Mojtaba Khamenei and intends to challenge the UK sanctions. None of the documents reviewed list assets in Khamenei’s name; many are registered under Ansari or offshore entities.

A separate Financial Times investigation estimated Ansari’s European property portfolio at around €400 million. It spans multiple countries and includes a golf resort in Mallorca, a ski hotel in Austria, and additional luxury properties structured through offshore companies in Luxembourg, St Kitts and Nevis, Austria, Germany, and Spain.

The revelations underscore the complexities of tracing foreign-held assets in connection with Iran’s ruling elite and highlight the financial networks tied to a potential future Supreme Leader.

The European Commission has presented a sweeping industrial strategy aimed at shielding key sectors from foreign competition and limiting China’s access to EU public funding and investment opportunities.

EU Industry Commissioner Stéphane Séjourné unveiled the Industrial Accelerator Act in Brussels on Wednesday, describing it as a response to mounting global uncertainty and what he called unfair competition. The plan introduces a “European Preference” designed to direct taxpayer-funded support toward companies producing within the bloc.

The initiative follows significant job losses across Europe’s manufacturing base. Since 2024, around 200,000 jobs have been lost in energy-intensive industries and the automotive sector. Projections suggest up to 600,000 additional losses in car manufacturing over the coming decade, as Chinese exports increase and foreign-owned plants generate limited local employment.

The strategy focuses on three strategic sectors: clean technologies, automotive manufacturing and energy-intensive industries such as aluminium, steel and cement. Under the new framework, products benefiting from EU public funding will need to meet “Made in Europe” thresholds. Electric vehicles must contain at least 70 percent EU content, with some exceptions for battery components. Aluminium and cement products will be subject to a 25 percent EU-content requirement.

Séjourné said the measures would strengthen supply chains, reduce dependencies and enhance economic security. He argued the plan would create jobs by ensuring public money supports domestic production.

The proposal has exposed divisions among member states. Nordic and Baltic countries cautioned that stricter rules could deter investment and restrict access to foreign technology. Germany advocated allowing goods from trusted trade partners to qualify under the European label, while France supported a tougher stance.

The Commission has proposed that products from countries with reciprocal free trade agreements with the EU could be treated as EU-origin in public procurement. This would exclude China and the United States, which do not have such agreements with the bloc.

Stricter conditions are also planned for foreign direct investment exceeding €100 million in sectors including batteries, electric vehicles, solar panels and critical raw materials. Investors from countries holding 40 percent of global market share in a given sector would be required to ensure at least half of jobs go to EU workers. Additional conditions include limits on foreign ownership, joint ventures with European partners, technology transfers and commitments to research and development within the bloc.

The proposal will now move to the European Parliament and the Council for approval as debates continue over how best to balance openness with industrial protection.