As part of his actions, Trump instructed the US Development Finance Corporation to begin providing political risk insurance services "at a reasonable price," as well as guarantees for all maritime trade passing through the Persian Gulf.
The President also noted that "this service will be available to all shipping companies," and added that if necessary, the US Navy would start escorting tankers in the Strait of Hormuz.
It should be noted that the Strait of Hormuz is a key route for transporting oil from the Middle East, through which about 20% of the world's crude oil supplies pass.
The Islamic Revolutionary Guard Corps, Iran's main security agency, has threatened attacks on any vessels attempting to cross the strait in response to military actions by Israel and the US against Iran. As a result of such events, oil and gas prices have significantly increased, and reports have emerged of several tankers being attacked.
