Iran to hold presidential election on June 28

Iran announced on Monday it will hold presidential elections on June 28, state media reported, following the death of President Ebrahim Raisi and his entourage in a helicopter crash.

"The election calendar was approved at the meeting of the heads of the judiciary, government, and parliament," state television said. "According to the initial agreement of the Guardian Council, it was decided that the 14th presidential election will be held on June 28."

"The Iranian nation has lost a sincere and valuable servant," said Iran's supreme leader 85-year-old Ayatollah Khamenei, whom Raisi had been expected by many observers to one day succeed .

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Thousands of mourners massed in central Tehran's Valiasr Square to pay their respects to Raisi and to Foreign Minister Hossein Amir-Abdollahian.

Funeral rites were set to start on Tuesday in Tabriz, East Azerbaijan province, for them and the other victims — three crew, two bodyguards, an imam and a provincial governor — before Raisi's body was to be taken to Tehran.

A funeral procession will take place in the capital on Wednesday morning.

Iran's military chief of staff Mohammad Bagheri ordered "a high-ranking committee to launch an investigation into the cause of the president's helicopter crash".

State TV broke the news early on Monday that "the servant of the Iranian nation, Ayatollah Ebrahim Raisi, has achieved the highest level of martyrdom", showing pictures of him while a voice recited from the Koran.

Flags soon flew at half-mast and a black banner was hoisted at a major Shiite shrine in the city of Qom south of Tehran.

Global allies Russia and China and regional powers voiced their condolences, as did NATO, while the UN Security Council observed a minute of silence.

Condolences also came from Palestinian group Hamas, Lebanon's Hezbollah and from Syria, all members of the so-called Axis of Resistance against Israel and its allies, amid high tensions over the Gaza war.

The United States, which has for decades had a fraught relationship with Iran, offered "official condolences" said State Department spokesman Matthew Miller.

However, he added that "we reaffirm our support for the Iranian people and their struggle for human rights and fundamental freedoms".

The price of gold hit a record high on Monday morning as the shock news boosted demand for the precious metal, which is seen as a safe-haven investment.

However, analysts did not expect major foreign policy changes, pointing out that ultimate power in Iran is held by the supreme leader and the Islamic Revolutionary Guard Corps, who work with a regional network of armed groups.

"It will be (the) status quo," Jason Brodsky, an expert at the Middle East Institute, told the BBC of Iran's relations with these groups.

"The IRGC reports to the supreme leader and liaises with Hezbollah, the Huthis, Hamas and the militias across the region. The modus operandi and the grand strategy of the Islamic republic will remain the same."

US Defense Secretary Lloyd Austin said he did not "see any broader regional security impact" from Raisi's death.

Iranian authorities first raised the alarm on Sunday afternoon when they lost contact with Raisi's helicopter as it returned from a border meeting with Azerbaijan's President Ilham Aliyev to inaugurate a dam.

Only two of the convoy's three helicopters landed in Tabriz, setting off a massive search and rescue effort, with multiple foreign governments soon offering help.