BlackRock CEO: Global Recession Looms if Iran War Continues
From Big Boss Interview by BBC News
March 25, 2026 · 35 min
About this episode
Larry Fink discusses the potential global recession due to rising oil prices linked to the Iranian conflict and the implications for energy and trade.
(Episode 32) Larry Fink, is Chairman and CEO of BlackRock - the world’s largest asset manager, overseeing more than $14 trillion in investments on behalf of governments, pension funds and individual investors globally. He tells BBC Business Editor Simon Jack that oil prices could remain above $100 a barrel for years — and rise to $150 — if the Iranian conflict is not resolved, a scenario he says would trigger a “stark and steep recession”. Higher energy costs would ripple through agriculture, fertiliser, and global supply chains, acting as a regressive tax that disproportionately affects the poorest. Fink calls for “energy pragmatism”, arguing countries should use all available energy sources — from oil and gas to renewables and nuclear — to build resilience. He highlights Europe’s fragmented power systems as a structural weakness, particularly as energy demand rises with the expansion of AI infrastructure. On trade, Fink says globalisation is being recalibrated rather than reversed. Post-war trading systems that favoured certain economies are shifting towards greater symmetry, though he acknowledges tariffs are inflationary. He dismisses comparisons to the 2008 financial crisis…
People in this episode
Host: Simon Jack
Guest: Larry Fink
Topics covered
- global recession
- energy prices
- Iran conflict
- globalisation
- artificial intelligence
- infrastructure investment
Keywords
- BlackRock
- oil prices
- recession
- energy pragmatism
- global supply chains
- artificial intelligence
- infrastructure
- globalisation
Mentioned in this episode
Organizations: BlackRock, BBC, AI
Places: Iran, Europe, United States
More episodes of Big Boss Interview
- Arm CEO: AI Will Cure Cancer · September 7, 2026 · 39 min
- Veolia CEO: We Can Help Run Thames Water If Govt Nationalise It · September 3, 2026 · 43 min
- Thames Water CEO: We Welcome Greater Public Control, Not Nationalisation · July 30, 2026 · 48 min
- etoro CEO: Our Customers Are Moving Away from Crypto · July 22, 2026 · 37 min
- Allwyn UK CEO: Britain Risks Losing the National Lottery if it Doesn't Innovate · July 15, 2026 · 44 min
- Lloyds Banking Group CEO: The End of Halifax and the Future of Bank Branches · July 8, 2026 · 56 min
Explore listener stats, chart rankings, contacts and more on the Big Boss Interview podcast page.