Lloyd’s of London is in talks with the U.S. International Development ​Finance Corporation regarding President Donald Trump’s plan to offer political risk insurance for ships traveling through the Strait of Hormuz to permit the flow of oil despite the threats posed by the conflict with Iran.

The president touted a plan earlier this week to help the transportation of oil and gas through the Strait of Hormuz by offering financial and logistical support to all shipping lanes, including escorts by the United States Navy. 

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