Millions of US dollars owed to Jamaica by UC Rusal at risk as west tries to cripple Russia’s economy
Recent international measures designed to cripple the Russian economy could stymie efforts by Jamaica to collect millions of U.S. dollars in future bauxite levy revenues from UC RUSAL at a time when the aluminum giant already has a backlog of monies owed.
Even before the invasion of Ukraine, the country’s mining ministry revealed that only late last year did the company begin settling its bauxite production levy debt to the Government of Jamaica that has been outstanding since 2018.