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Exclusive: Rusal triggers Iran-style defence after U.S. sanctions - source

Reuters  |  LONDON 

By Dmitry Zhdannikov and Pratima DesaiLONDON (Reuters) - Russian aluminium giant Rusal has activated a contingency plan asking customers to pay in euros instead of dollars to try to skirt round U.S. sanctions, a source close to the matter said.The plan follows the example of Iran, which a few years ago opted to use gold, oil and the Japanese yen to pay for goods that would typically be priced in dollars."Rusal has triggered an Iran-like defence plan," a top executive at one of Rusal's shareholders said, declining to name the banks that would process the transactions.Rusal declined to ...

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First Published: Wed, April 11 2018. 01:04 IST