Trump: US to provide insurance to all maritime trade in Persian Gulf

US President Donald Trump said on Tuesday he had ordered the United States Development Finance Corporation to provide insurance and guarantees for the financial security of all maritime trade, including oil tankers, traveling through the Persian Gulf region.

""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," he said in comments in a social media post.

"If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible."

(Reporting by Bhargav Acharya and Ryan Patrick Jones in Toronto; Editing by David Ljunggren)