Kathmandu. U.S. President Donald Trump has directed the U.S. International Finance Corporation (DFC) to provide political risk insurance and security assurances for all shipments through the Gulf.
“I have directed the DFC to immediately provide political risk insurance and guarantees for all shipments through the Gulf,” Trump revealed on Tuesday. At a very reasonable price, especially for energy transportation. The move underscores the U.S. readiness to deploy military force to directly protect international energy transport routes in response to Iran’s threats to block the Strait of Hormuz.
In a message posted on the social media Truth Social on Tuesday, he announced that the US Navy would provide military protection to tankers passing through the Strait of Hormuz. “If necessary, the US Navy will begin escorting tankers from the Strait of Hormuz as soon as possible,” Trump said on social media on Tuesday afternoon. “Under no circumstances, the United States will ensure the free flow of energy to the world,” he said. “
According to The Chosulilbo, the announcement comes amid heightened military tensions in the Strait of Hormuz, a transit point that transports 20% of global crude oil, due to US military action against Iran.TAG_OPEN_p_8 Trump’s announcement is a sign of his resolve to protect oil prices.
If the prolongation of military action against Iran leads to a spike in global oil prices, it could become a significant burden for Trump ahead of November’s midterm elections. Since Trump took office, the White House has steadily encouraged the drop in oil prices nationwide.
Earlier, General Ibrahim Jabbari of Iran’s Islamic Revolutionary Guard Corps warned that “we will sink any ship that tries to pass through the Strait of Hormuz and stop exporting even a drop of oil.” ”
