“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, especially Energy, traveling through the Gulf. This will be available to all Shipping Lines. If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible. No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD. The United States’ ECONOMIC and MILITARY MIGHT is the GREATEST ON EARTH — More actions to come,” posted convicted felon President Trump on Tuesday.
Yes, the crews of those oil tankers will feel so much better about sailing past Iranian shores now that the owners of their concerns can “at a very reasonable price” insure the vessels should they be hit by a missile or drone, igniting the payload. The owners should just as assuredly feel confident that their claims for such losses will be honored by the famously honest operator who sold them.