The US announced a $20 billion reinsurance programme to revive shipping in the Strait of Hormuz, where vessel crossings have come to a halt as the US and Israel's war on Iran continues.
The initiative from the US International Development Finance Corporation will cover war risk in the Gulf region, and will help to restore confidence in maritime trade and support international trade.
“We are confident that our reinsurance plan will get oil, gasoline, LNG, jet fuel
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