Commerce Secretary Wilbur Ross plans to completely divest from a shipping company that counts a Russian gas producer with ties to the Kremlin among its major customers.
A commerce department spokesman says Ross plans to sell all his shares of Navigator Holdings. That company ships products from Sibur, a Russian gas producer whose owners include two Russian oligarchs close to President Vladimir Putin and a businessman believed to be Putin’s son-in-law.
Details of the Ross stake in Navigator were revealed among the Paradise Papers leak of documents about offshore entities.
Critics have said Ross should not hold the stock given his public office. He has said that he disclosed his stake in reports filed with the government earlier this year and has done nothing wrong.