President Donald Trump has announced plans to protect commercial vessels passing through the Strait of Hormuz, a waterway facing threats from Iran, potentially deploying the US Navy to do so.
“If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible,” he posted on his platform Truth Social on Tuesday.
“No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD.”
Additionally, he has instructed the relevant United States International Development Finance Corporation (DFC) to offer risk insurance and guarantees for all maritime trade in the region.
The measure is primarily aimed at energy transport but is available to all shipping companies.
The strait between Iran and Oman (Strait of Hormuz) is considered one of the most important shipping routes worldwide.
It is the only connection from the Gulf to the world’s oceans.
Significant oil-producing countries are located along the Gulf, including Iran, Saudi Arabia, Iraq, Kuwait, Qatar, Bahrain, and the United Arab Emirates.
The war and threats from Iran to set passing ships on fire have caused unrest in the energy markets.
The prices for oil and gas increased significantly as a result of this.
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