President Donald Trump said the U.S. would provide insurance guarantees and naval escorts to ensure safe passage for oil tankers and other vessels through the Strait of Hormuz, intending to head off a potential energy crisis caused by the war with Iran.
Trump said Tuesday that the U.S. International Development Finance Corporation would offer insurance “at a very reasonable price” to help ensure the flow of energy and other commercial trade in the Gulf. In addition, he said “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 president posted on social media.