Paradise Papers: Trump’s Commerce Secretary Has Ties to Putin Cronies

By Daniel Politi | Slate
Nov 5, 2017
http://www.slate.com/blogs/the_slatest/2017/11/05/paradise_papers_trump_s_commerce_secretary_wilbur_ross_has_ties_to_putin.html

Among the most explosive revelations so far involves news that Commerce Secretary Wilbur Ross shares business interests with close allies of Russian President Vladimir Putin, which he failed to fully disclose during confirmation hearings. The documents show Ross continues to have a significant interest in a shipping firm that has a Russian energy company as one of its main clients. The owners of that company include Putin’s son-in-law and an oligarch under U.S. sanctions. The stake in the firm is held in Cayman Islands, just like much of the commerce secretary’s massive wealth that has been estimated at more than $2 billion.

The Commerce Department is not disputing the allegations. Ross “recuses himself from any matters focused on transoceanic shipping vessels, but has been generally supportive of the administration’s sanctions of Russian and Venezuelan entities,” a spokesman said. “He works closely with Commerce Department ethics officials to ensure the highest ethical standards.”