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Commerce Secretary Wilbur Ross Short Sale of Kremlin-Linked Shipping Firm Navigator Holdings Wins Ethics Approval

Spoiler

 

Commerce Secretary Wilbur Ross received approval from the top federal ethics agency for short selling the stock of a shipping company linked to close associates of Vladimir Putin.

The review by the Office of Government Ethics was to determine whether the transaction complied with federal ethics laws, including conflict of interest rules. Ross, who wasn’t required to divest his holdings in shipping companies, shorted stock in Navigators Holdings Ltd. on Oct. 31, a day after a reporter from the New York Times contacted Ross seeking comment about his holdings in the company and its dealings with a Russian energy firm.

In his initial financial disclosure form, provided to OGE in January 2017, Ross disclosed that the entities that held his stake in the shipping company, as well as other assets, were valued at $2 million to $10 million. Officials disclose the value of their assets in broad ranges.

“I first sold Navigator stock on May 31, as reported on my public filing,” Ross said in a statement Tuesday. “I later learned in late October that there were more shares belonging to me in an account that the company had opened in electronic form at a firm acting as its agent.”

Ross said he “decided to continue selling those shares, but since I did not have physical possession of them in order to make delivery in the required time period, I technically sold them short and when the shares were delivered by the agent on November 16 I delivered those shares to the broker to close out the transaction. Therefore, it made no economic difference to me whether the shares went up or down between the sale date and the date I delivered them.”

The Commerce Department added in a statement that Ross “continues to follow the guidance” of department ethics officials “to ensure compliance with federal laws and regulations.”

Kremlin Connections

Navigator Holdings’ Kremlin connections came to light in November, when news organizations that are part of the Washington-based International Consortium of Investigative Journalists, whose partners include the New York Times, published reports based on documents leaked from the Bermuda law firm Appleby to the German newspaper Suddeutsche Zeitung that were shared with the consortium.

 

 

The documents showed that Navigator Holdings did substantial business with a Russian energy firm called Sibur, whose owners include Russian President Putin’s son-in-law Kirill Shamalov and Gennady Timchenko, a Russian oligarch. Both are subject to American sanctions.

 

Spoiler

 

In response to the initial reports in early November, Ross said in a Bloomberg TV interview, “We have no business ties to those Russian individuals who are under sanction.” He added that he had nothing to do with the company’s negotiations with Sibur but that “there’s nothing whatsoever wrong with Navigator having a deal with them.”

Ross held the position until November 16, a second filing with OGE shows. The transaction was valued at $100,000 to $250,000, his federal disclosures show. The OGE issued its approval of the transactions Monday.

OGE also approved a series of transactions made in October in which Ross divested nine W.L. Ross funds worth at least $7.6 million to a trust in which neither he nor his wife has a financial interest. Those transactions were first reported by Forbes magazine.

 

 

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20 hours ago, Eraserhead said:

 

Zapravo ovo cemu svedocimo je rana faza radjanja nekakve nove mracne i opasne globalne ideologije. Kombinacija unutrasnjeg kapitalizma, spoljnjih protekcija, nacionalizma, populizma u kombinaciji sa teorijama zavera itd itd

... i peer razumevanja na medjunarodnom planu. 

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1 minute ago, pacey defender said:

... i peer razumevanja na medjunarodnom planu. 

 

Nacionalisti uvek simpatisu izmedju sebe do tipping point-a, tj. kad dodju na vlast svuda i interesi pocnu da im se sukobljavaju. Izlaz onda svi zajedno vide u ratu posto su im medjunarodne institucije i internacionalni savezi trn u oku. Na kraju dolazi onda konferencija gde se opet svi dogovore posle nekoliko desetina miliona mrtvih.

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To mozda u istorijskim citankama, lakseg razumevanja analfabeta poput tebe i tebi slicnih: naravno, ni pomena - a i ko bi smeo - o konfliktnosti koja je ugradjena u sistem i cini njegov sastavni deo, deo bez koga sistem ne moze da funkcionise.

Sto se toga tice, uz sav kvaziliberalizam koji ti ovde pokusavas da prodas, takoreci nista se nije promenilo od 1914. godine: svet je samo postao slozeniji, a interesi zbog kojih se hvata za gusu prikriveniji i umotani u ambalazu prihvatljiviju za masetm poput ljudskih prava, humanitarnih intervencija, itd, itd...

Cak i uz ta ortopedska pomagala sistem nije uspeo da za cirka 100 godina smisli nista bolje od utjecanja starim, dobrim i oprobanim nacionalizmima, koncentracionim logorima i - kako vreme odmice - sve ogoljenijoj dehumanizaciji.

Nista sto se dogadja u zemljama takozvane zrele demokratije, od USA do Francuske, sa sve raznim Madjarskama, nije slucajno: sve je deo opsteg trenda u kome se jedan sistem batrga ne uspevajuci da nadje resenja, ali zato uspevajuci da uzduz i popreko stvara, izmislja ako treba - neprijatelje.

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1 hour ago, mustang said:

vau kakvi dusebriznici

 

Ti kao forumaska Ann Coulter treba da imas razumevanja za interes biznisa da se ne zameri vecini svojih musterija.

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43 minutes ago, Eraserhead said:

 

Ti kao forumaska Ann Coulter treba da imas razumevanja za interes biznisa da se ne zameri vecini svojih musterija.

 

raportovacu te za vredjanje

 

jbg nemam nikog i nista da mogu tebe da uporedim...cak je i ameba ajnstajn za tebe

Edited by mustang
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pre je bilo decu su drzali sa roditeljima...ali po zatvorima.  valjda nece opet da se vrate na to?!? 

 

 

dobro je sto je tramp predsednik. napadaju ga sa svih strana, sve ono sto su njegovi prethodnici zasrali on sada ispravlja koliko toliko. znam da ce neoliberali da polude... od mene ce da ima glas u ‘22 ako potpise za Majku Prirodu sve neophodne mene jebo ga ugalj. 

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1 hour ago, mustang said:

 

raportovacu te za vredjanje

 

jbg nemam nikog i nista da mogu tebe da uporedim...cak je i ameba ajnstajn za tebe

 

29bkrd.jpg

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8 hours ago, Anduril said:

Super je to, tako se mogu i tridesete proslog veka objasnjavati kao puka posledica gluposti iz dvadesetih. Samo, nece biti da objasnjenje tako prosto posto su se veoma razlicite stvari pocele desavati od zemlje do zemlje. U istoriji jednostavno postoje trenuci koji odlucuju da li ce nesto da krene u jednom ili drugon pravcu a to mogu biti svesne odluke (Brexit, Tramp) ili puke slucajnosti.

Anduril,

 

Da 20e su imale direktan uticaj na 30e, plus jos puno toga. Kao sto sam napisao, uvek je lokalni zacin davao specijalno gorku aromu globalnom trendu.

 

Nije Tramp svesna odluka vec posledica. To je nazalost moralo da se desi. Sama situacija gde je on postao kandidat je problem sam po sebi. 

 

Pozdrav, x500

 

 

 

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7 hours ago, mustang said:

raportovacu te za vredjanje

 

2 hours ago, mustang said:

moja osecanja nisu ni za mm ostecena :)

 

 

Dosta kontradiktorno.

 

 

 

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