Trump Orders Financial Protections for Shipping Amid Iran Conflict
“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 wrote on his Truth Social platform.
He added, “This will be available to all shipping lines. If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible. No matter what, the United States will ensure the free flow of energy to the world.”
The US president said additional measures would be announced in the future. The DFC is a government-owned development bank, as stated by reports.
Energy prices have spiked since the joint US-Israeli attacks on Iran early Saturday, which killed senior leaders, including Supreme Leader Ayatollah Ali Khamenei. In retaliation, Iran launched extensive drone and missile attacks targeting US bases, diplomatic facilities, military personnel, and several Israeli cities, escalating the conflict further.
Prior to the strikes, oil prices were already rising. Reports indicate that on February 27, Brent crude rose 2.8% to $73 per barrel, while West Texas Intermediate (WTI) increased 2.6% to $67.17.
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