WASHINGTON (AP) — Commerce Secretary Wilbur Ross made a trade betting that the stock in a shipping company with Russian-government ties would fall, a transaction coming just days after he learned of a possible negative news story about his investment in the company.
Ross reported on a government form released Monday, as required by federal ethics rules, that he shorted stock in Navigator Holdings in October. The New York Times reported Tuesday that the transaction came three business days after Times reporters submitted questions to Ross about Navigator. The transaction, listed as worth between $100,000 and $250,000, was first reported Monday by Forbes.
Navigator counts a Russian gas producer with ties to the Kremlin among its major customers.
Ross’s spokesmen said in November that he planned to completely divest from Navigator.