President Donald Trump announced Tuesday that the United States government will offer insurance to ships operating in the Gulf region, following Iran’s success in disrupting traffic through the Strait of Hormuz and causing a surge in oil prices.
Trump stated that the U.S. Military will accompany vessels through the Strait of Hormuz if necessary. “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 in a social media post on March 3, 2026.
The DFC, the U.S. Government’s development finance agency, is tasked with advancing U.S. Foreign policy and bolstering national security by mobilizing private capital globally. The discounted risk insurance will be available for all shipping lanes, according to the announcement.
“If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible,” Trump added. “No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD.”
The Strait of Hormuz is a strategically vital trade route connecting the Gulf to the Indian Ocean, with approximately 20 percent of the world’s oil supply passing through it. This move comes after Iran struck several vessels in the area, raising concerns about regional stability and global energy markets. Politico reported on the developing situation earlier today.
The U.S. Navy may also begin escorting tankers, according to USNI News, while additional European warships are reportedly en route to the Mediterranean.
The announcement also follows reports that Al Jazeera reports that Iran’s Islamic Revolutionary Guard Corps Navy maintains control of the waterway for Tehran.
