March 6, 2026
US Creates $20 Billion Reinsurance Fund for Gulf Shipping Amid Iran War
The latest measure comes after U.S. oil prices posted their biggest weekly gain in trading history.
TL;DR
- A $20 billion federal reinsurance program for commercial oil and gas vessels has been created by the Trump administration.
- The program aims to restore tanker traffic in the Strait of Hormuz.
- It is intended to stabilize global energy markets amid rising oil prices.
- The International Development Finance Corporation (DFC) will insure losses up to $20 billion.
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