politics
March 15, 2026
Duffy says insurance for US escorts in Strait of Hormuz ready, but security isn't
Transportation Secretary Sean Duffy said Sunday that the Trump administration has a plan prepared to insure ships traveling through the Strait of Hormuz but is still waiting for military officials to determine when it is safe to begin escorting vessels through the contested waterway.
TL;DR
- The Trump administration has a prepared plan to insure ships traveling through the Strait of Hormuz.
- The insurance mechanism is ready to be implemented.
- The timeline for authorizing naval escorts through the strait depends on a security assessment by military officials.
- The Strait of Hormuz is a critical shipping lane for approximately one-fifth of the world's oil supply.
- The initiative aims to stabilize global energy markets disrupted by events in Iran.