Canada, Japan and some European countries are now ready to assist the United States in opening the Strait of Hormuz to commercial shipping. In a joint statement, these countries called on Iran to end its threats, drone and missile attacks, and laying mines in the waterway. They also criticized the attacks on infrastructure, including oil and gas facilities. Meanwhile, the Trump Administration is considering plans to require ships moving through the Strait of Hormuz to purchase insurance from American companies. The cost of insurance is five times higher than it was at the beginning of the war. There are reports that the insurance on a $100 million oil tanker would total $5 million.
