Platinum Pulse
Jamaica's Prime Minister Told America Russian Assets Are Safe He Meant It
In April 2022, while Russia was invading Ukraine and the entire Western world was severing ties with Moscow, Jamaica's Prime Minister Andrew Holness stood at the National Press Club in Washington, D.C., and told the American press that Russia's assets in Jamaica were safe. He meant it.
Russia's aluminum giant, Rusal, owned one hundred percent of Windalco — one of Jamaica's most important bauxite and alumina operations. The chairwoman of the U.S. House Financial Services Committee, Maxine Waters, was publicly pushing to reimpose sanctions on Rusal. She had bipartisan support. Washington's political machinery was aligned against the Russian presence in Jamaica. And Holness — fresh from a meeting with Vice President Kamala Harris at the White House — refused to move.
This video tells the full story of how Russia quietly embedded itself into the bedrock of Jamaica's economy, how a 2018 U.S. sanctions crisis nearly destroyed thousands of Jamaican livelihoods overnight, how Jamaica mounted one of the most aggressive diplomatic campaigns in its history to save a Russian-owned mining operation, and why — when the pressure returned in 2022 — Jamaica's prime minister had no choice but to defy the most powerful country on earth.
From the rise of oligarch Oleg Deripaska through Russia's brutal aluminium wars, to the moment Jamaica sold its last seven percent stake in Windalco to pay off a debt it owed to Rusal, to the geopolitical standoff that put a tiny Caribbean nation at the center of the largest sanctions campaign since the Cold War — this is the story behind the story.
This isn't just about sanctions. It's about sovereignty, survival, and what happens when a nation's most valuable natural resource is owned by everyone except the nation itself.
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SOURCES:
• Jamaica Information Service — Statements by Mining Ministers Robert Montague (June 2018, February 2019) and Phillip Paulwell (June 2014); UC Rusal corporate affairs announcements (2007)
• U.S. Treasury Department / OFAC — Sanctions designations (April 6, 2018); General Licence 14 (July 18, 2018); Delisting notification (December 19, 2018); Formal delisting (January 27, 2019)
• Jamaica Gleaner — Windalco operations, Rusal Alpart acquisition, bauxite levy waivers, Esther Figueroa commentary (July 2023)
• Jamaica Observer — Windalco worker concerns, Vincent Morrison / UCASE statements (March 2022), Rusal levy debt repayment
• Reuters — Mining Minister Audley Shaw on Rusal levy payments (May 2022); Rio Tinto aluminium market warnings
• RJR News — Finance Minister Nigel Clarke on Windalco payroll and levy relief (July 2023); Jamaica 7% stake sale (2014)
• Capitol Intelligence / BBN PR — PM Andrew Holness National Press Club statement (April 1, 2022)
• Asia Times — Holness Washington visit coverage, diaspora reaction, Rusal asset spin-off reports
• American Presidency Project — VP Kamala Harris remarks on Jamaica visit (March 30, 2022)
• Forbes — Oleg Deripaska net worth (July 2025)
• Mining.com / Euronews — Windalco production capacity data; Mining Minister Shaw confirmation of continued operations (March 2022)
• AL Circle — Windalco scholarship awards (September 2025)
• E&MJ (Engineering & Mining Journal) — Rusal sale of Alpart to JISCO (2016)
• U.S. Diplomatic Cables (2006, leaked) — Deripaska-Putin relationship characterization
• Jamaica Bauxite Institute — Historical production data
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DISCLAIMER: This video is for educational and informational purposes only. All facts, statistics, and quotes presented are sourced from publicly available records, official government statements, and credible news reporting as cited above. This content does not constitute political advice, investment guidance, or an endorsement of any government, company, or individual mentioned. Platinum Pulse is an independent channel and is not affiliated with any government, political party, corporation, or organization referenced in this video. Viewer discretion is advised.
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#Jamaica #Russia #Geopolitics
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Published Jun 19, 2026