Economics
Rusal Asks Aluminum Clients to Stop Payment After Sanctions
Russian Stocks Take Worst Hit Since 2014 on U.S. Sanctions
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United Co. Rusal asked its customers to stop payments after it was placed under U.S. sanctions.
The aluminum producer is investigating the consequences of the sanctions and doesn’t waive its right to the payments, according to a copy of a letter dated April 6 and signed by Rusal’s Head of Marketing Steve Hodgson. His division handles international sales, which account for about 80 percent of the company’s business.