Oil tankers pass through the Strait of Hormuz on Dec. 21, 2018. Hamad I Mohammed/Reuters
The Trump administration created a $20 billion federal reinsurance program for commercial oil and gas vessels to restore tanker traffic in the Strait of Hormuz.
White House officials have been employing various measures to stabilize global energy markets as oil prices broke $90 per barrel at the end of the trading week amid the conflict in Iran.
President Donald Trump announced earlier this week that his administration would provide guaranteed political risk insurance and, if needed, naval escorts to ensure the global flow of oil.
A plume of smoke rises following a reported explosion in Tehran on Feb. 28, 2026. ATTA KENARE / AFP via Getty Images
Israel has said that after the destruction of three Iranian nuclear sites by the United States and Israel during the Twelve Day War last June, Iran continued clandestine efforts to restore its nuclear weapons program.
On March 3, the Israel Defense Forces (IDF) said that it “struck and destroyed the secret nuclear headquarters in Minzadehei, located partly underground in the city of Tehran. A team of nuclear scientists was operating covertly at this headquarters.”
The military added that during the June 2025 strikes, “the Iranian regime transferred some of its capabilities to secret bunkers and attempted to restore its efforts and conceal them.”