politics
March 12, 2026
Iran War: U.S. Navy will escort oil tankers through Strait of Hormuz when 'militarily possible,' Bessent tells Sky News
The Strait of Hormuz has been effectively closed to shipping because of the war against Iran by the U.S. and Israel.
TL;DR
- U.S. Navy plans to escort ships through the Strait of Hormuz when "militarily possible."
- The Strait of Hormuz is effectively closed due to the war against Iran, causing oil prices to spike.
- Energy Secretary Chris Wright stated the Navy is not ready for escorts and is focused on Iran's offensive capabilities.
- President Trump suggested oil company CEOs should send tankers through the strait.
- Chubb will underwrite a federal program to insure ships transiting the strait.
- Iran's supreme leader wants the Strait of Hormuz to remain closed as a "tool to pressure the enemy."
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