US President Donald Trump has announced that the American government will provide insurance coverage and naval protection for ships travelling through the Gulf, with a special focus on oil-carrying vessels.
The move comes as the Strait of Hormuz—described as the key sea route for export shipments from West Asian crude oil-producing countries—has been closed, leaving around 700 oil tankers halted at various locations.
Iran, which had earlier declared it would not allow any vessel through the Hormuz route, has also attacked two ships, according to the report.
In a statement shared by Trump, he said he has directed the US Development Finance Corporation to provide risk insurance and Navy security for all ships travelling through the Gulf, particularly oil tankers. He added that US forces will protect oil and gas vessels passing through the Strait of Hormuz.
