Trump Administration Announces $20 Billion Reinsurance Program for Strait of Hormuz Shipping

The Trump administration announced a $20 billion reinsurance program Friday for tankers and other maritime vessels to enable safe passage through the Strait of Hormuz. The program aims to facilitate continued commercial shipping through the strategically vital waterway amid heightened tensions in the region. The initiative underscores U.S. efforts to maintain freedom of navigation and stabilize global energy markets during the ongoing conflict.