US doubles insurance cover for vessels transiting Strait of Hormuz

The United States has doubled insurance guarantees for tankers passing through the Strait of Hormuz to $40 billion, up from the level announced a month earlier.

Six additional insurers have joined the scheme to provide marine reinsurance, including Berkshire Hathaway, Liberty Mutual, Caliber.Az reports via foreign media.

The programme is being implemented by the U.S. International Development Finance Corporation, a government-backed institution tasked with mobilising private capital.

Earlier, U.S. intelligence assessments indicated that Iran is unlikely to ease its grip on the Strait of Hormuz in the near term, highlighting the leverage Tehran continues to exert over global energy flows.

According to sources cited by British media, Iran views control of the passage — which handles roughly a fifth of global oil trade — as a key bargaining tool in its standoff with Washington. Analysts say the ongoing disruption could sustain pressure on U.S. President Donald Trump as tensions enter a fifth week.

Experts warn that any attempt to forcibly reopen the strait risks high costs and could trigger a broader, prolonged conflict. Tehran has reinforced its position through a range of measures that have made commercial shipping more difficult and costly to insure.

These disruptions are already feeding into higher global energy prices and supply strains, particularly for countries heavily reliant on Gulf exports.

By Aghakazim Guliyev