Russia's Rosneft has submitted details of a deal to purchase an oil trading unit of Morgan Stanley to a confidential U.S. committee that evaluates national security risks, the Wall Street Journal reported, citing a source familiar with the matter. (on.wsj.com/1vy1eiN) Morgan Stanley agreed to sell the majority of its global physical oil trading operations to state-owned Rosneft in December, before Russia launched an incursion into Ukraine's Crimean peninsula.A Morgan Stanley spokesman declined to comment.The investment bank said in May it planned to proceed with the sale despite the crisis in Ukraine.Industry watchers have expressed doubts the deal will go through due to Western sanctions on Russian officials, including Rosneft's head Igor Sechin, over the Ukraine crisis.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.53% or $0.17/share to $32.49. In the past year, the shares have traded as low as $23.83 and as high as $33.52. On average, 10821100 shares of MS exchange hands on a given day and today's volume is recorded at 6190608.
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