President Donald Trump on Tuesday offered political risk insurance and a US Navy escort for shipments flowing through the Persian Gulf amid attacks on oil tankers near the Strait of Hormuz.
“Effective IMMEDIATELY, I have ordered the United States Development Finance Corporation (DFC) to provide, at a very reasonable price, political risk insurance and guarantees for the Financial Security of ALL Maritime Trade, especially Energy, traveling through the Gulf,” Trump said in a Truth Social post.
Further details on Trump’s directive were not immediately released. The president said the US Navy will also provide an escort for tankers “if necessary.”
A White House spokesperson did not immediately respond to a request for comment.
The assurances from the president come as fighting in the Middle East has impacted multiple ships transiting the Strait of Hormuz.
This is a breaking story. Check back for updates.
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