US will provide insurance for ships in Gulf amid Iranian attacks: Trump

Al JazeeraCenterEN 2 min read 100% complete by Al Jazeera StaffMarch 3, 2026 at 09:22 PM

AI Summary

medium article 2 min

In March 2026, President Trump announced the US government will provide insurance for ships in the Gulf, particularly those transporting energy, through the Development Finance Corporation (DFC). This decision comes after Iran's actions largely shut down the Strait of Hormuz, causing oil prices to surge following recent US and Israeli strikes against Tehran. The DFC will offer political risk insurance and guarantees for maritime trade at a reasonable price. Trump also stated that the US Navy will escort tankers through the Strait of Hormuz, a crucial waterway for global oil supply, if necessary. The aim is to ensure the free flow of energy to the world amidst escalating tensions and disruptions to oil supplies in the region.

Key Entities & Roles

Key Player Opposition Context

Germany 30% Indian Ocean 40% Israel 60% US Navy ×270% United States Development Finance Corporation (DFC) ×275% Iran ×480% United States ×580% Gulf ×485% Donald Trump ×490% Strait of Hormuz ×595%

Keywords

strait of hormuz 100% insurance 80% oil tankers 70% oil prices 70% us navy 70% free flow of energy 70% maritime trade 60% political risk insurance 60% energy 60% us development finance corporation 50%