SvennoJ said:
It's different than those countries. Iran started an energy war in response by sabotaging and bombing oil and gas refineries around the ME as well as blocking the straight of Hormuz. Europe will suffer as well. Oil prices ease after Trump says U.S. will insure tankers transiting Strait of Hormuz Trump said the U.S. Development Finance Corporation will “provide, at a very reasonable price, political risk insurance and guarantees” for the financial security of all maritime trade through the Gulf. “If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible,” the president said in a social media post. That's pure fantasy, is the US going to sweep for mines to escort each tanker... Is the American tax payer going to pay for each sunk / damaged tanker? |
And it certainly makes sense for Trump to try and do that but it remains to be seen what impact it will have and how Trump's insurance will work. If its expensive, it won't move the dial. If its cheap, it encourages more Iranians attacks on shipping as if they get even a handful it causes major costs for the US. And if Trump then renegade on promises to payout, everything is right back where it started.
Reports are saying traffic in the Strait of Hormuz is still falling so still looks like shipping companies aren't willing to take the risk.







