Morgan Stanley Sees Rosneft Deal Surviving U.S. Russia Sanctions

Morgan Stanley (MS) said it still expects to complete the sale of its oil-merchanting business to OAO Rosneft this year after the U.S. imposed new sanctions on the Russian company.

“We don’t believe it applies to our transaction, so we’re continuing to do the work necessary to close by the end of the year,” Morgan Stanley Chief Financial Officer Ruth Porat said in a telephone interview today after the New York-based bank announced second-quarter earnings.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: Steve Dickson at sdickson1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.