Morgan Stanley Stops Trading Oil with Libya: Report

Wall Street bank Morgan Stanley (MS) has stopped trading oil with Libya, a trade source told Reuters on Monday, in an early indication that sanctions could hit exports from the north African producer. The firm canceled all crude oil and refined products in the past week “due to the OFAC,” the source familiar with the firm’s transactions said, referring to the U.S. Office of Foreign Assets Control, which controls trade sanctions.

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