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The United States establishes a $20 billion reinsurance fund for Gulf region shipping to prepare for Iran war
Investing.com - The U.S. International Development Finance Corporation announced on Friday that it will provide up to $20 billion in loss reinsurance to support oil and gas transporters in the Gulf region during the Iran conflict.
The U.S. International Development Finance Corporation stated in a release that the insurance program will initially focus on hull, machinery, and cargo insurance.
The U.S. International Development Finance Corporation also said that this reinsurance mechanism will only apply to vessels that meet specific criteria.
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