Rosneft may reject the deal buy the oil trading division of Morgan Stanley

Rosneft may reject the deal to buy oil trading business of Morgan Staley. The reason is the imposition of Western sanctions, which has made the financing of daily operations almost impossible, Reuters reports

According to the agency’s interlocutors, the probability of the transaction varies from "possible" to "unlikely." Representatives of Morgan Stanley declined to comment. After the message about possible withdrawal of Rosneft from the transaction, a representative of the state-owned company reported to the RIA Novosti, that "the work on the transaction continues".

According to the agency, Rosneft has enough cash to buy the oil trading division of Morgan Stanley. However, it’s necessary to attract billions of dollars of bank loans to carry out the daily operations, which is problematic for Rosneft, which is under the sanctions.