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

July 17 (Bloomberg) -- Morgan Stanley 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.

Link to Company News:{MS US <Equity> CN <GO>} Link to Company News:{ROSN RM <Equity> CN <GO>}

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

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