US President Donald Trump announced decisive action to address the security risks in the Middle East and shipping disruptions in the Strait of Hormuz caused by the ongoing conflict with Iran. In a statement on his Truth Social account, Trump said he instructed the US Development Finance Corporation (DFC) to immediately provide political risk insurance and financial guarantees for all maritime trade through the Gulf region, particularly energy transport, at a "very reasonable price." This insurance will be open to all ship operators and aims to cover financial losses for companies operating in the conflict zone. Trump also pledged to guarantee the free flow of energy, stating that "if necessary, the US Navy will begin escorting tankers through the Strait of Hormuz as soon as possible," and emphasized that "the US's economic and military power is the greatest in the world." This initiative comes after Iranian threats and attacks on tankers caused freight and insurance premiums to reach record levels, many ships to change their routes, and created a serious risk of a global oil supply shortage. Experts believe that the DFC's state-backed insurance mechanism could restore liquidity in a market from which commercial insurers have withdrawn, and that naval escorts could enhance security in the straits, thus curbing excessive increases in oil prices.
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· 10m ago
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AYATTAC
· 10m ago
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AYATTAC
· 10m ago
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ybaser
· 41m ago
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Discovery
· 1h ago
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Discovery
· 1h ago
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YamahaBlue
· 1h ago
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US President Donald Trump announced decisive action to address the security risks in the Middle East and shipping disruptions in the Strait of Hormuz caused by the ongoing conflict with Iran. In a statement on his Truth Social account, Trump said he instructed the US Development Finance Corporation (DFC) to immediately provide political risk insurance and financial guarantees for all maritime trade through the Gulf region, particularly energy transport, at a "very reasonable price." This insurance will be open to all ship operators and aims to cover financial losses for companies operating in the conflict zone. Trump also pledged to guarantee the free flow of energy, stating that "if necessary, the US Navy will begin escorting tankers through the Strait of Hormuz as soon as possible," and emphasized that "the US's economic and military power is the greatest in the world." This initiative comes after Iranian threats and attacks on tankers caused freight and insurance premiums to reach record levels, many ships to change their routes, and created a serious risk of a global oil supply shortage. Experts believe that the DFC's state-backed insurance mechanism could restore liquidity in a market from which commercial insurers have withdrawn, and that naval escorts could enhance security in the straits, thus curbing excessive increases in oil prices.
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#OilPricesSurge