Commerce Secretary Wilbur Ross says he'll sell off all his stock after a slew of ethics questions

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wilbur rossJoe Raedle/Getty ImagesCommerce Secretary Wilbur Ross testifies at his confirmation hearing, January 18, 2017.

US Commerce Secretary Wilbur Ross said he would sell all of his remaining equity holdings and buy US Treasuries after receiving a letter on Thursday from the federal ethics agency criticizing his asset reporting.

"To maintain the public trust, I have directed that all of my equity holdings be sold and the proceeds placed in US Treasury securities," Ross said in a statement.

Ross's holdings were under scrutiny when in June, he was reported to have shorted a shipping firm's stock days after The New York Times contacted him about the firm's links to Russia.

At one point, Russian President Vladimir Putin's son-in-law Kirill Shamalov reportedly owned as much as 20% in the firm, Navigator Holdings.

Ross's sale was worth between $100,000 and $250,000, according to The New York Times.

(Reporting by Eric Walsh; Editing by Toni Reinhold)

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