WSJ: Rosneft, Morgan Stanley submit deal for U.S. security review

|About: Rosneft Oil Company OJSC (RNFTF)|By:, SA News Editor

Rosneft (RNFTF) has submitted a deal to buy a Morgan Stanley (MS) oil trading unit to the confidential U.S. committee that weighs national security risks, WSJ reports, in a deal likely to face close scrutiny with Rosneft CEO Igor Sechin part of a U.S. sanctions list following the turmoil in Ukraine.

Since a foreign government controls Rosneft, U.S. law directs the CFIUS committee to scrutinize the case at length, and top U.S. officials likely will take into account broader Russian economic and security factors that go beyond the specific risks of the business being sold.

A CFIUS decision is likely to come 75 days after the filing, which means the deal could close in Q3.