BlackRock CEO Larry Fink argues US-Iran conflict won’t derail economy as gas prices surge

BlackRock chairman and CEO Larry Fink insisted the United States’ war with Iran will not have lasting economic consequences, even as oil prices continue to surge nationwide.

“Do I believe the war is going to be lasting a long time? No,” Fink told Fox News chief political anchor Bret Baier. “Do I believe oil is going be reverting back to where it was? Maybe even lower.”

Fink joined “Special Report” Wednesday, where he discussed how artificial intelligence and the war in Iran are affecting the economy. He also addressed whether so-called “woke” corporate initiatives have proven to be a failed experiment.

Turning first to market volatility, Fink explained why short-term impacts on energy prices do not alarm BlackRock, the world’s largest asset manager.

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“It creates uncertainty, and uncertainty creates fear,” he said of the war with Iran. “But that being said, the $14.5 trillion of money we manage, most of it is very long-dated. I don’t pay much attention to the short-term volatility.”

Fink’s comments come as energy markets roil amid conflict in the Middle East.

Gasoline prices have surged 20% since the U.S. attacked Iran Feb. 28, causing intensifying pain at the pump. The national average currently sits at $3.58 per gallon for regular gasoline, compared to $2.94 before the U.S. struck Iran, per AAA.

Despite the recent spike, Fink argued that oil prices could fall even lower once the war ends and if Iran reenters the global market.

“If the outcome of the war is a neutralized Iran, and they are allowed to be selling… oil products into the market again, I mean there’s probably a great probability that oil is gonna be below 50,” he said.

Fink cautioned investors against making drastic moves during the U.S.-Israel-led war with Iran, arguing that the volatility could create opportunities.

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“We have seen many people pulling out of the market. And to me, that is the wrong outcome,” Fink argued. “In fact, I’ve been getting so many texts, ‘What should I do?’ And I said, ‘Buy more here.’ This is a good long-term opportunity.”

The CEO went on to address whether “woke” initiatives like Diversity, Equity, and Inclusion (DEI) and Environmental, Social Governance (ESG) were failed experiments for BlackRock.

“The pendulum moves all the time,” Fink said.

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“Do I believe the pendulum five years ago was too far? Yes.”

BlackRock began rolling back its DEI initiatives last February, citing “significant changes to the US legal and policy environment related to Diversity, Equity and Inclusion (DEI) that apply to many companies, including BlackRock.”

Fink said he feels “more pragmatic” today than he did five years ago and noted that society has moved into a “better position” of increased pragmatism.

Baier continued to press Fink on whether BlackRock pushed its corporate clients too far to a certain side.

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“Do you think BlackRock pushed some companies a little bit further left than you thought?” Baier asked.

“It was never our intention because our job is to be… I gotta be a fiduciary to everybody who gives us money,” Fink responded.

Ex-Iranian women’s soccer star empathizes with national team, breaks down sharing story of father’s death

Shiva Amini, a former Iranian women’s professional soccer player who was banned from the team and later forced to leave the country after she was photographed playing without a hijab around her head, suggested Wednesday that the players coming back to the country faced an uncertain future.

Six Iranian women’s national soccer team players received asylum in Australia after the team was bounced from the Women’s Asian Cup. The Australian government stepped in and worked with some players to attain a humanitarian visa.

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Amini appeared on Fox News Channel’s “The Story” said she understood what the players are going through.

“I can totally understand what those Iranian soccer players are going through because I’ve been in their shoes,” she said. “The Iranian regime put you in this situation. You have to say goodbye to everything that you have in Iran … Anything could happen to you when you go to Iran. You can face prison, you can face rape, you can face execution. … The regime don’t care about who you are.”

Amini was granted asylum in Switzerland over threats from the Islamic regime in Iran.

She broke down in tears as she recalled being unable to see her father for nearly 10 years and missing his funeral when he died.

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“I was in Switzerland and the regime put me in a situation,” she said. “I just simply play soccer with my friends without my hijab on and the regime saw my social media and used that against me because they wanted to make an example of me for the other athletes in Iran.

“They took everything from me. I lost my family, I lost my home, I lost my safety. I remember after six, seven years when I was in Italy I just wanted to invite my parents, my family, my mom and my dad because my dad was like restless. He was like, ‘Hey, I wanna see you.’ I tried to get a visa for them. This is so sad because I tried so hard with a lawyer but the regime didn’t give a visa to my dad, but (only) my mom.

“My mom came to me after seven years and when she was there, I was so happy. It was something after seven years I could hug my mom, I feel her. When my mom was in Italy, my brother called me and said, ‘Dad, passed away.’ And that day was the worst day of my life because I felt guilty. My mom is here. I couldn’t get a visa for my dad.  … I wanted to get hack to Iran, but my mom didn’t allow me and she said, ‘No, you cannot even see your dad because they’re gonna arrest you.’”

Most of the Iranian women’s soccer team left Australia, declining last-minute asylum offers.

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The team flew to Malaysia after being at Sydney Airport.

FIFA president says Trump reiterated Iran ‘welcome to compete’ at World Cup in US amid Middle East conflict

FIFA President Gianni Infantino said President Donald Trump “reiterated” to him that Iran’s men’s national soccer team would be “welcome to compete” at the 2026 World Cup in the United States later this summer, despite the ongoing conflict in the Middle East.

Infantino shared the details of his conversation with the president in a lengthy post on Instagram on Tuesday.

“This evening, I met with the President of the United States, Donald J. Trump to discuss the status of preparations for the upcoming FIFA World Cup, and the growing excitement as we are set to kick off in just 93 days.

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“We also spoke about the current situation in Iran, and the fact that the Iranian team has qualified to participate in the FIFA World Cup 2026. During the discussions, President Trump reiterated that the Iranian team is, of course, welcome to compete in the tournament in the United States,” Infantino said.

 “We all need an event like the FIFA World Cup to bring people together now more than ever, and I sincerely thank the President of the United States for his support, as it shows once again that Football Unites the World.”

But on Wednesday, Iran’s sports minister claimed a squad would not be sent to the World Cup. 

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“Considering that this corrupt regime has assassinated our leader, under no circumstances can we participate in the World Cup,” ​​Sports Minister Ahmad Donyamali told state television, via Reuters. 

Iran is scheduled to play in Inglewood, California, against New Zealand on June 15 and Belgium on June 21 before finishing group play against Egypt in Seattle on June 26. The U.S. is hosting the tournament with Canada and Mexico from June 11 to July 19.

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Trump was indifferent last week when asked about Iran’s participation in the World Cup, telling Politico, “I really don’t care.” 

“I think Iran is a very badly defeated country. They’re running on fumes.”