US launches $20 billion maritime reinsurance program for Gulf shipping. President Trump ordered the International Development Finance Corporation to provide political risk insurance and financial guarantees for oil and liquefied natural gas tankers operating through the Strait of Hormuz, where approximately 20 percent of global oil transits daily. The initiative aims to restore confidence in maritime trade after tanker movements halted due to regional tensions with Iran. The reinsurance will operate on a rolling basis, initially covering hull and machinery insurance along with cargo protection. This strategic intervention addresses critical vulnerabilities in global energy supply chains and signals government commitment to maintaining stable oil and gas flows through one of the world's most vital shipping corridors.
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