DFC confirms $20B plan for maritime reinsurance in the Gulf

U.S. International Development Finance Corporation CEO Ben Black and U.S. Treasury Secretary Scott Bessent announced agreement on a detailed implementation plan approved by President Trump to deploy Maritime Reinsurance, including war risk, in the Gulf region. “In close coordination with CENTCOM, this plan will restore confidence in maritime trade, help stabilize international commerce, and support American and allied businesses operating in the Middle East during the conflict with Iran. This announcement marks a key milestone toward the rapid implementation of President Trump’s directive to utilize DFC’s innovative financial toolkit to safeguard the continued flow of trade,” the DFC stated. Publicly traded oil production companies include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).