The European Commission has approved under the EU Merger Regulation the acquisition of partsof Morgan Stanleyof the United States, namely Morgan Stanley's Global Oil Merchanting Unit,byOJSC Oil Company Rosneft of Russia.The parties' activities overlap on various markets for oil and refined petroleum products, including fuel oil sales in the EEA. The Commission concluded that the proposed acquisition would not raise competition concerns, because the overlaps are very limited and a number of strong players would remain in the market after the merger.