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Trump offers political risk insurance and US Navy escort for ships through the Strait of Hormuz
President Donald Trump offered political risk insurance for "ALL Maritime Trade, especially Energy."Giuseppe Cacace/AFP via Getty ImagesPresident Donald Trump offered political risk insurance for "ALL Maritime Trade, especially Energy."The president also said on Truth Social that the US Navy will also provide an escort "if necessary."Fighting in the Middle East is affecting vessels near the strategic Strait of Hormuz.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.Read the original article on Business Insider
