The US government has given local bauxite company Windalco leave to conduct business, despite sanctions to be implemented on its parent company UC Rusal.

Minister of Mining Robert Montague updated parliament today (Jul 24) on local efforts to ease the negative effects on the company and it’s over 1200 employees.

UC Rusal, which owns 93 % of Windalco, was among 12 Russian companies and their principals who were in April threatened with sanctions by the US government.

The US sanctions have targeted oligarchs close to Russian President Vladimir Putin, who include Oleg Deripaska, owner of UC Rusal.

Mr. Montague said the government wrote a letter to the UD Department of the Treasury’s office of foreign assets control, about the effects of the sanctions on operations and staff at Windalco.

He noted that the government sought the grant of waivers for UC Rusal to allow the company to purchase fuel, equipment and spares among other things.

According to Mr. Montague the response received from the US. Department of the Treasury’s office of Foreign Assets Control, is positive.

This as, according to the US, Windalco’s commercial activities are covered under general licence 14 which will then allow the waivers to hold until the October 23 expiry date.

Mr. Montague read an excerpt of the letter received from the US Treasury office.

Mr. Montague noted that the government will continue to monitor the situation adding that this is a clear indication that the United States is committed to assisting Jamaica, with the sanctions which were never intended to harm Jamaica or the economy.

And, Opposition member Phillip Paulwell is imploring the government to come up with solutions before the expiration of general licence 14, which covers Windalco’s operations.

Windalco has been granted a waiver from the effects of the US sanctions against the company’s parent company, Russian aluminium producer, UC Rusal.

This will hold until the October 23.

In responding to Mr. Paulwell, Mining minister Robert Montague stated that the government will be working with the US Treasury office for the next step after the deadline.