Morgan Stanley sold its commodities division, known as Global Oil Merchanting, to Rosneft’s subsidiary. Certain details of the deal, including the final price paid by the purchaser, are deliberately kept out of the public’s knowledge.

The agreement between the companies provides that Rosneft will get 49 percent of Heidmar Holdings LLC, a commercial tanker operator running 100 tankers for different product holders. Many other issues were settled according to the agreement between the companies, such as the supply, purchase, and the transportation of oil, as well as access to an international network of oil reservoirs and various investments in shareholder capital.

According to the deal, a third of the entire administrative personnel will be transferred to Rosneft. Those 100 managers are involved in the company’s operations with raw materials in the United States, Great Britain, and Singapore.

All other aspects of the business will remain the same for Morgan Stanley. The bank’s trading operations will continue. The company will manage the interests of its clients. It will continue to hold a share in the U.S. TransMontaigne pipeline that supplies petroleum products to the southwest region of the U.S. Additionally, Morgan Stanley will remain in the business of selling natural gas and electricity. The bank will still keep its stakes in power generating companies.

The deal with Rosneft is subject to approval by the United States Committee on Foreign Investment that serves as the regulator in transaction such as the one between Morgan Stanley and Rosneft. The Committee has authority to block transactions based on national security concerns. Nonetheless, this deal is likely to be closed by the middle of 2014.

The acquisition will allow Rosneft to increase its sales of oil. As a result of the deal, Rosneft^ will compete with Glencore and Vitol, the top oil traders in the world, as well as Britain’s BP, Royal Dutch Shell of Great Britain and the Netherlands, France’s Total, and Saudi Arabia’s Saudi Aramco.