Trump offers political risk insurance and US Navy escort for ships through the Strait of Hormuz

• President Donald Trump offered political risk insurance for "ALL Maritime Trade, especially Energy."
• The president also said on Truth Social that the US Navy will also provide an escort "if necessary."
• Fighting in the Middle East is affecting vessels near the strategic Strait of Hormuz.

President Donald Trump on Tuesday offered political risk insurance and a US Navy escort for shipments flowing through the Persian Gulf amid attacks on oil tankers near the Strait of Hormuz.

"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," Trump said in a Truth Social post.

Further details on Trump's directive were not immediately released. The president said the US Navy will also provide an escort for tankers "if necessary."

A White House spokesperson did not immediately respond to a request for comment.

The assurances from the president come as fighting in the Middle East has impacted multiple ships transiting the Strait of Hormuz.

This is a breaking story. Check back for updates.