Trump Orders Maritime Insurance and Signals Navy Escorts to Secure Strait of Hormuz Oil Flows
U.S. President Donald Trump said Tuesday he has ordered the United States International Development Finance Corporation (DFC) to provide political risk insurance and financial guarantees for maritime trade moving through the Gulf, and signaled that the U.S. Navy could begin escorting tankers through the Strait of Hormuz if necessary. Representational Image: NY Post In a public statement, Trump said the directive takes effect immediately and is intended to safeguard the financial security of all maritime trade, particularly energy shipments transiting the Gulf. He said the insurance and guarantees would be available to all shipping lines at what he described as a reasonable price. Trump added that if conditions require, the U.S. Navy will begin escorting tankers through the Strait of Hormuz “as soon as possible,” asserting that the United States will ensure the free flow of energy to global markets. He described U.S. economic and military capacity as sufficient to uphold that object...