Habib Elghanian was a prominent Jewish businessman in Iran, well-respected within the community and known for his charitable contributions and business acumen. His execution by firing squad took place amidst the upheaval of the Iranian Revolution, a time when many ruling structures and traditions were being challenged. As the new Islamic regime began to consolidate power, increasing scrutiny and hostility toward religious minorities, especially Jews, escalated. The government viewed Elghanian, along with others, as symbols of the old regime, and his execution sent shockwaves through the Jewish community.

The repercussions of this event were immediate and profound. Following the execution, a climate of fear gripped the Jewish population of Iran, leading to a notable decline in their numbers. Many families made the difficult decision to emigrate, seeking safety in countries like the United States, Canada, and Israel. The once-vibrant Jewish community, which had deep historical roots in Iran that spanned over 2,500 years, saw its population drop significantly. By the early 1980s, only a small fraction of its original numbers remained, marking a significant demographic and cultural shift in Iran.

Elghanian's execution did not just affect the Jewish community; it also served as an indication of the broader challenges faced by minority groups in post-revolutionary Iran. The event highlighted the new regime's oppressive stance towards different religious and ethnic groups, driving home the message of conformity and loyalty to the new Islamic ideals. Over time, this led to a broader expulsion of various minority communities and initiated a period of cultural loss in Iran that still resonates today.