US commerce secretary Wilbur Ross has sold his stake in MR owner Diamond S Shipping, despite it not being mentioned in recent stories about his links to Russian companies.
Ross “has fully divested of his interest in Diamond S Shipping,” commerce department spokesman James Rockas said, in response to questions from the Center for Public Integrity.
The tycoons is currently in Beijing, traveling with US president Donald Trump.
Diamond S has not commented.
Ross was thrust into the headlines over the weekend after reports linked another shipping company he owns shares in, Navigator Holdings, to Russian energy company Sibur and its sanctioned shareholders.
Sibur contributed almost 10% of the shipowner’s revenue in 2016.
Ross branded claims from some publications he had failed to properly disclose his ties with Navigator 'totally wrong'.
"It was disclosed on the form 278, which is the financial disclosure form, in my case, three times," Ross said in a TV interview.
He also said there was nothing improper about Navigator's dealings with Sibur.
Ross added he would probably sell his stake in that owner too.
His Diamond S stake was valued at between $2m and $10m, according to a disclosure form he filed in January.
He will now have to reveal the date of the sale to the Office of Government Ethics, but not the buyer.
Ross’s company WL Ross & Co, owned as much as 32% of Diamond S Shipping as of 2014.
In February, the Wall Street Journal and the Financial Times reported that Ross’ continued investment in Connecticut-based Diamond S alongside China Investment Corp (CIC) was raising questions about potential conflicts in steering US policy on Beijing.
TradeWinds reported on 8 December last year that CIC continued to be one of the top investors in the tanker owner led by chief executive Craig H Stevenson Jr.
