US proposes $5B fund to aid Gulf nations’ energy infrastructure rebuilding

Trump Proposes $5 Billion Fund to Rebuild Gulf Energy Infrastructure

U.S. President Donald Trump has proposed a fund to finance infrastructure rebuilding damaged in the war with Iran, offering $5 billion in U.S. money for starters. The information comes from the Wall Street Journal, which cited unnamed sources from Washington and Gulf states. The money from the fund would also be used to help Gulf states develop alternative oil export routes bypassing the Strait of Hormuz, the report also said, adding that the United States will ask these states to also contribute to the fund, eyeing a total size of $10 billion.…

OilPrice.com•Irina Slav