US Creates $20 Billion Reinsurance Fund for Gulf Shipping Amid Iran War

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In this Epoch Times article, the U.S. government is creating a massive financial backstop to keep commercial shipping moving through the Persian Gulf as the conflict with Iran threatens global energy supplies.

The Trump administration has established a $20 billion federal reinsurance fund to protect commercial ships operating in the Persian Gulf amid the expanding war with Iran.
The program is designed to stabilize global shipping by covering war-related losses for vessels traveling through dangerous waters, particularly the Strait of Hormuz.
Roughly 20 percent of the world’s oil supply passes through the Strait of Hormuz, making the region one of the most strategically critical energy chokepoints on Earth.
Rising missile and drone attacks tied to the Iran conflict have caused insurance costs to skyrocket, leading many commercial vessels to avoid the area altogether.
The reinsurance facility will be administered through the U.S. International Development Finance Corporation, which will provide backup coverage to private insurers.
By reducing financial risk, the program aims to encourage shipping companies to continue moving oil and cargo through the Gulf despite the military threat.
Officials say the move is necessary to prevent severe disruptions to global energy markets and supply chains as tensions escalate in the region.