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Secretary Ross was not on the board of Navigator in March 2011 when the ships in question were

acquired. Nor was he on the board of Navigator in February of the following year when the charter
agreement for those ships was signed with Sibur. Sibur was not under sanctions at the time the
contract was signed and is still not subject to sanctions.

No funds managed by WL Ross & Co. ever owned a majority of Navigator shares. Secretary Ross
joined the Navigator Board as a Director on March 30, 2012, left in 2014, and never met the three
individuals mentioned in your second question.

Secretary Ross recuses himself from any matters focused on transoceanic shipping vessels, but has
been generally supportive of the Administrations sanctions of Russian and Venezuelan
entities. Secretary Ross has never had to seek, nor received, any ethics exemption, and he works
closely with Commerce Department ethics officials to ensure the highest ethical standards.

Secretary Ross has repeatedly spoken in favor of increasing U.S. exports as the best way to reduce
the trade deficit, creating American jobs. Those who support these goals are aligned with the

Private equity firms have a responsibility to their investors to optimize corporate structures, and
Secretary Ross has decades of experience that he is now using to benefit American
workers. Secretary Rosss responsibility lies with the American people, and he is committed to
restoring our economy and creating American jobs.


James Rockas
Press Secretary & Deputy Director of Public Affairs
U.S. Department of Commerce