Washington DC, March 3 -- 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...