Trump moves to give oil ships financial cover amid Iran war

President Trump took steps Tuesday to prevent a sharp decline in global oil supply and give maritime shipping companies financial protection amid the war in Iran.

The president said Tuesday he was ordering the U.S. Development Finance Corp. (DFC), a federal agency, to provide political risk insurance for shipping companies traveling through the Persian Gulf.

Oil prices have spiked since the U.S. and Israel launched strikes against Iran over the weekend, killing Iranian supreme leader Ayotollah Ali Khameni. Iran has said it would close the Strait of Hormuz in response, choking off the key maritime shipping lane for energy and other firms.

In a post on Truth Social, Trump ordered DFC to offer “at a very reasonable price, political risk insurance and guarantees for the Financial........

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