WASHINGTON, March 4: US President Donald Trump said that he ordered the United States Development Finance Corporation (DFC) to provide political risk insurance and guarantees for the Financial Security of ALL Maritime Trade, especially Energy, traveling through the Strait of Hormuz.
"If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible," Trump said in a post on Truth Social.
Insurance authority issues directives on monetary loss insuranc...
Iran had threatened earlier that it would attack ships passing through the Strait of Hormuz, with some tankers attacked. Several insurance companies informed their maritime transport customers that they dropped war insurance. The Strait of Hormuz normally sees the passage of 60 ships a day, around 20 percent of global oil flows.
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