Iran war makes Middle East peace prospects better long-term

JPMorgan Chase CEO Jamie Dimon said Tuesday that while the war in Iran poses near-term risks, it may ultimately improve the prospects for lasting peace in the Middle East.

“I think the Iran war makes it a better chance in the long run — it’s probably riskier in the short run, because we don’t know the outcome of it,” Dimon told Palantir executive Mike Gallagher at a conference held in Washington, D.C.

The key shift, according to Dimon, is a convergence of interests among regional powers. Saudi Arabia, the United Arab Emirates, Qatar, the U.S. and Israel all want permanent peace, he said, adding that Gulf states in particular have shown a willingness to move in that direction.

“The attitude is not what the attitude was 20 years ago,” Dimon said. “They all want it.”

Dimon, who leads the world’s largest bank by market cap, also tied his analysis directly to economics, arguing that foreign direct investment — which had been flowing into the region for years — will dry up without stability.

“They can’t have neighbors lobbing ballistic missiles into their data centers,” he said.

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