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The Trump administration has doubled its maritime insurance backstop to $40 billion, expanding a flagship effort to restart commercial shipping through the Strait of Hormuz—even as shipowners continue to largely stay away.
Reunification marks major shift in offshore oversight model built after Deepwater Horizon.
President Donald Trump on Friday said the U.S. can open the Strait of Hormuz with a little more time, as pressure mounts for his administration to find a quick resolution to a war against Iran.
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