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23:35
Trump Vows To Protect Shipping In Strait Of Hormuz
US President Donald Trump has vowed to offer military and financial security for shipping traffic in the crucial Strait of Hormuz, which is being threatened by Iran amid its retaliatory action following US and Israeli air strikes.
"If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible," he posted on hisTruth Socialplatform on March 3.
Trump also said he has instructed the US International Development Finance Corporation (DFC) to offer risk insurance and guarantees for all maritime trade in the Gulf region. The action is directed att energy transport but will be available to all shipping companies, he said.
Oil tankers pass through the Strait of Hormuz.
"No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD."
"More actions to come," he said.
Oil prices had surged and stock markets globally had tumbled amid concerns that Iran could attack shipping in the strait, which lies between Iran and Oman.
It is considered one of the most important shipping routes in the world, being the only connection from the Gulf to the world's seas.
Markets recovered some of the losses after Trump's announcement.
With reporting by dpaShare
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21:57
Fire Contained After Drone Strike Near US Consulate in Dubai
A fire was contained near the US Consulate in Dubai on March 3 after a drone strike, US authorities confirmed, as regional tensions intensify amid ongoing US-Israeli military operations against Iran.
The Dubai Media Office said emergency crews responded immediately to a blaze caused by a "drone-related incident" in the vicinity of the diplomatic compound. No injuries were reported, and the fire was brought under control.
Videos circulating on social media showed flames and thick black smoke near at least one building inside the compound.
