President Donald Trump signaled Tuesday that he would direct the American military to escort oil tankers through the Strait of Hormuz, a major global shipping corridor.
Trump and his administration have faced growing criticism over plunging stocks and the rising prices of global gasoline and oil amid the U.S. and Israel military strikes on Iran. Iran has launched counterattacks targeting other countries in the Middle East and tankers in the Strait of Hormuz, prompting the closure of the critical energy channel, according to The Washington Post.
Trump wrote the following on Tuesday on his Truth Social platform.
"Effective IMMEDIATELY, I have ordered 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 Maritime Trade, especially Energy, traveling through the Gulf. This will be available to all Shipping Lines. If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible. No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD. The United States’ ECONOMIC and MILITARY MIGHT is the GREATEST ON EARTH — More actions to come. Thank you for your attention to this matter! President DONALD J. TRUMP"