Economics
Ross-Linked Firm Expanded Ties to Russia's Sibur After Sanctions
- Navigator doubled number of ships contracted for Sibur in 2014
- Sibur says its shareholders not aware of Ross role in shipper
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Navigator Holdings Ltd., the shipping firm part-owned by U.S. Commerce Secretary Wilbur Ross, doubled the number of contracts it had with Sibur Holding PJSC just months after the U.S. imposed sanctions on a major shareholder of the Russian petrochemical company in 2014.
Sibur itself wasn’t subject to the restrictions, which the U.S. imposed over the Ukraine crisis, but they led to a broad chill in business ties between the two countries.