Paradise Papers show US commerce chief has holdings in firm with Russian ties
Washington — US Commerce Secretary Wilbur Ross has kept investments in a shipping firm with significant business ties to Russian President Vladimir Putin’s inner circle, US media reported on Sunday, citing leaked documents from an offshore law firm. Partnerships used by Ross, a billionaire investor helping to shape President Donald Trump’s trade policy, have a 31% stake in Navigator Holdings, which the New York Times said earned millions of dollars a year transporting gas for Russian petrochemical firm Sibur. Gennady Timchenko, a Russian oligarch and Putin associate subject to US sanctions, and Putin’s son-in-law, Kirill Shamalov, were Sibur stakeholders, said the Times, which based its report on files from Appleby, a prominent offshore law firm. Reuters was unable to independently confirm the findings. In an e-mailed statement, a Department of Commerce spokesman said Ross "was not involved in Navigator’s decision to engage in business with Sibur … has never met the Sibur shareholde...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.