Donald Trump pledges government insurance for maritime trade as conflict with Iran disrupts shipping

President Trump authorizes political risk insurance and naval escorts for tankers as the Iran war disrupts oil shipments through the Strait of Hormuz.

By: AXL Media

Published: Mar 3, 2026, 3:51 PM EST

Source: The information in this article was sourced from Global News

Executive Action on Maritime Insurance

President Donald Trump confirmed on Tuesday that his administration is moving to provide government backed insurance for maritime trade, with a specific focus on energy shipments. The President stated that he has directed the United States International Development Finance Corporation to offer political risk insurance to oil tankers and commercial ships. According to statements released on social media, these guarantees are intended to be provided at reasonable prices to maintain trade stability during the ongoing regional conflict.

Military Support for Commercial Shipping

The President also indicated a willingness to deploy military assets to protect commercial interests in the Persian Gulf. He noted that the United States Navy may begin escorting tankers through the Strait of Hormuz as soon as possible if the situation requires such intervention. This directive is part of a broader effort to ensure the continued movement of energy resources to global markets despite the active hostilities currently affecting the primary shipping lanes in the Middle East.

Disruption of the Strait of Hormuz

The Strait of Hormuz has remained impassable for a fourth day following Iranian attacks on five vessels. This narrow waterway is a critical artery for global commerce, and the current blockage has effectively choked off a passage responsible for approximately 20 percent of the world oil supply. Threats from Iranian forces to target any additional ships attempting to cross the strait have led to a complete standstill in one of the most vital maritime corridors for seaborne energy trade.