Washington DC [US], March 4 (ANI): Amid escalating tensions in West Asia and growing concerns over disruptions to global oil supplies, President Donald Trump announced that the United States would take 'immediate steps to safeguard maritime trade' in the Gulf region, including offering political risk insurance and potentially deploying naval escorts through the Strait of Hormuz.

In a post on Truth Social, Trump said he had directed the United States Development Finance Corporation (DFC) to provide political risk insurance and guarantees to ensure the financial security of all maritime trade, particularly energy shipments transiting through the Gulf.

'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, travelling through the Gulf. This will be available to all Shipping Lines,' Trump wrote.

https://x.com/WhiteHouse/status/2028923532709969935

He further added that the US Navy could begin escorting tankers through the strategically critical Strait of Hormuz if necessary.

'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. Thank you for your attention to this matter!' the US President said.

The announcement comes at a time when crude oil markets are closely tracking developments in the region as the Strait of Hormuz remained effectively closed for a fourth consecutive day. Brent crude futures were trading at around USD 82.29 per barrel at the time of writing, according to data from Yahoo Finance, reflecting heightened volatility amid geopolitical uncertainty.

The Strait of Hormuz, a narrow maritime passage connecting the Persian Gulf with the Gulf of Oman, is one of the world's most critical energy chokepoints, with a significant portion of global oil and liquefied natural gas shipments passing through it.

Trump's declaration signals Washington's readiness to leverage both economic and military tools to maintain stability in international energy markets amid mounting regional tensions.

This comes after the US and Israel carried out coordinated airstrikes across multiple Iranian cities on February 28 targeted military command centres, air-defence systems, missile sites, and key regime infrastructure. This resulted in the deaths of Iranian Supreme Leader Ayatollah Khamenei and four senior military and security officials, with large explosions reported in Tehran and other major cities.

In response, Iran launched ballistic missiles and drones at US assets and allies across the region, including Israel, Bahrain, Kuwait, Qatar, Saudi Arabia, the United Arab Emirates, and Jordan, further widening the conflict in the Middle East and heightening risks for civilians and expatriates alike. (ANI)