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Insurance for ships passing through Strait of Hormuz turned out to be unclaimed — FT

According to the publication, the program did not meet the requirements imposed on vessels transiting the Strait of Hormuz

LONDON, May 16. /TASS/. The US program for insuring ships passing through the Strait of Hormuz turned out to be unclaimed, with not a single dollar disbursed under it, the Financial Times (FT) reported, citing sources.

According to the publication, the program did not meet the requirements imposed on vessels transiting the Strait of Hormuz.

"The DFC [the US government's development finance institution - TASS] programme's purpose is to insure ships while transiting under US naval escort, and there has been no escort," a representative of the insurance company Chubb, which participated in the program's implementation, explained.

The Wall Street Journal had previously reported that under Operation Project Freedom to organize transit through the Strait of Hormuz, US Navy ships would not escort vessels. The operation began on May 4 and was suspended the following day.

US President Donald Trump announced the government ship insurance program in March of this year, the newspaper recalled. The program's value reaches $40 million.

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