JPMorgan Chase CEO Jamie Dimon: The short-term risk of war with Iran is high, but it could potentially bring peace to the Middle East.

Investing.com - JPMorgan Chase CEO Jamie Dimon said Tuesday that the Iran war poses a short-term risk but could ultimately improve prospects for lasting peace in the Middle East.

At a conference in Washington, D.C., Dimon stated during a conversation with Palantir executive and former Congressman Mike Gallagher that the region’s attitude toward peace has fundamentally changed compared to 20 years ago.

“I believe that the Iran war, in the long run, increases the chances for peace — it may pose greater risks in the short term because we don’t know how the outcome will unfold,” Dimon said.

The CEO pointed out that the interests of regional powers are converging. He said Saudi Arabia, the UAE, Qatar, the U.S., and Israel all want to achieve lasting peace, adding that the Gulf countries are especially showing a willingness to move in that direction.

“The attitude now is different from 20 years ago,” Dimon said. “They all want peace.”

As the head of the world’s largest bank by market value, Dimon linked his analysis of the Middle East directly to the economy. He believes that foreign direct investment flowing into the region over the years will dry up without stability.

“They can’t let neighboring countries launch ballistic missiles at their data centers,” he said.

In the interview, Dimon stated that the U.S. needs to “get serious” about key industries related to national security, which was part of his motivation for launching a $1.5 trillion plan last year.

“I’m deeply frustrated with U.S. policies that set us back,” Dimon said, citing the inability to produce enough ammunition as an example. “We’ve become like Europe, unable to act or change, unable to adjust budgets or procurement,” he added.

Dimon believes that the U.S. government and business community have made a “huge mistake” over the past few decades in dealing with China, including reliance on China for critical components. “It was widely believed they would become more democratic and free, but in reality, they haven’t moved in that direction,” he said when talking about China.

The conflict began last month when the U.S. and Israel launched hundreds of strikes against Iran, including one that resulted in the death of the country’s top leader. The war has impacted global markets, with oil prices soaring due to supply disruptions.

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