InternationalNewsAPI
Trump announces political risk insurance for ships in Gulf
Overview
President Trump ordered political risk insurance to cover the financial security of maritime trade transiting the Gulf and backed a $20 billion reinsurance program for tankers to restart stalled traffic. He framed these insurance and reinsurance measures alongside a public pledge to keep the Strait of Hormuz open—calling it an "honor"—and announced plans to waive some oil sanctions to help lower energy prices. Together the steps aim to reduce insurers' exposure and encourage carriers to resume voyages.
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ORGCBS NewsLOCthe GulfPERSONDonald Trump
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