Strait of Hormuz update: US President Donald Trump says US Navy may escort ships after Iran closure
US President Donald Trump instructed his administration to provide support to ships in the Strait of Hormuz to ensure the continuation of energy supply after Iran closed the key waterway.
The Bosphorus, controlled by Iran, hosts the transportation of 20 percent of the world’s oil supply, 20 percent of the world’s liquefied natural gas (LNG) and one-third of the world’s fertilizer supply.
Iran ordered the closure on Tuesday, threatening to blow up unauthorized ships trying to cross the narrow strait.
“Effective IMMEDIATELY, I have directed the United States Development Finance Corporation (DFC) to provide, at a very reasonable price, political risk insurance and guarantees for the Financial Security of ALL Shipping, especially Energy, traveling in the Gulf,” Trump said in a statement on Truth Social.
“This will be available to all Shipping Lines.
“If necessary, the US Navy will begin escorting tankers in the Strait of Hormuz as soon as possible.
“No matter what happens, the USA will ensure the FREE FLOW OF ENERGY TO THE WORLD.”
In a warning to Iran, Mr. Trump reminded the nation that it was responsible for the most powerful collective of the armed forces.
“THE ECONOMIC AND MILITARY POWER OF THE USA IS THE GREATEST POWER IN THE WORLD,” he added.
