NEW YORK, July 17 (Reuters) - Morgan Stanley does not believe new U.S. sanctions on Russian oil company Rosneft will affect a pending deal between the two companies, the bank’s chief financial officer said on Thursday.
Morgan Stanley management still expects to sell the majority of its global physical oil trading operations to Rosneft later this year, CFO Ruth Porat said, though she noted that the U.S. government’s guidance had only been issued the previous night.
“We don’t believe it applies to our transaction,” she said.
Morgan Stanley agreed to sell the majority of its global physical oil trading operations to Rosneft in December, before Russia launched an incursion into Ukraine’s Crimean peninsula. (Reporting by Lauren Tara LaCapra, Editing by Franklin Paul)