Saturday, December 10

Yacht owned by sanctioned Russian tycoon docks in Hong Kong


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HONG KONG (AP) — A superyacht connected to Russian tycoon Alexey Mordashov has anchored in Hong Kong this week amid moves by Western governments to seize yachts connected to sanctioned Russian businessmen.

The megayacht Nord, worth over $500 million, arrived in Hong Kong on Wednesday afternoon after traveling for over a week from Vladivostok, Russia, its last port of call.

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Mordashov is one of Russia’s richest billionaires, with an estimated wealth of over $18 billion according to an estimate by Bloomberg. He is the main shareholder and chairman of Severstal, Russia’s largest steel and mining company.

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He was sanctioned by the US, the United Kingdom and the European Union in February after Russia invaded Ukraine. Mordashov has since attempted to challenge the sanctions against him in European courts.

US and European authorities have seized over a dozen yachts belonging to sanctioned Russian tycoons to prevent them from sailing to other ports that are not affected by the sanctions. Russian oligarchs have begun docking their yachts at ports in diplomatic places like Turkey, which has maintained ties with Russia since the war began.

The Nord, which measures 141.6 meters (464.6 feet), has two helipads, a swimming pool and 20 cabins. The yacht is currently sailing under a Russian flag.



financialpost.com