Rosneft & Morgan Stanley Terminate Global Oil Merchanting Purchase Due to Regulatory Blocks

Rosneft and Morgan Stanley had to terminate the contract to sell Morgan Stanley’s Global Oil Merchanting business to Rosneft Oil Company dated 20 December 2013 due to an objective impossibility to complete the deal that has arisen as a result of regulatory clearances being refused. Having invested substantial efforts in the deal, the parties regret that it could not be completed. Despite this, the parties continue to cooperate in other spheres.