Business

The giant yacht worth $ 500 million of a Russian tycoon is stirring up US-Hong Kong relations



It was a huge yacht that was gone. When Western sanctions hit Vladimir Putin’s allies earlier this year in the wake of the Russian leader’s invasion of Ukraine, their luxury yachts seize another in jurisdictions around the world.

But not Nord, a $500 million ship tied to steel magnate Alexey Mordashov. This spring the yacht is extremely luxurious risk of collision by turning off its transponder and racing all the way back to Vladivostok from the Indian Ocean, avoiding capture by Western authorities.

Now, much to the fury of American officials, it’s attached to the base so everyone can watch it in Hong Kong — and the authorities there have nothing to do with it.

Spokesperson of the Hong Kong Maritime Bureau Talk to Financial Times:

“Some countries may impose unilateral sanctions on certain locations on the basis of their own considerations,” but the Hong Kong government “has not done so, nor do we have the authority to do so.” jurisdiction to implement unilateral sanctions imposed by other jurisdictions”.

US officials were unimpressed. Foreign Office officials told the British newspaper that “Hong Kong’s reputation as a financial center depends on compliance with international laws and standards… Individuals evading sanctions from the many jurisdictions may question the transparency of the business environment.”

Others have agreed.

Ryan Mitchell, a lecturer in international law at the University of Hong Kong, told the newspaper that there would be “significantly increased risks if Hong Kong becomes a popular destination for the assets of sanctioned Russian corporations or individuals.” “. He added, “Hong Kong-based corporations or individuals should be aware that they may later face secondary sanctions if they engage in business transactions or relationships. with Russian sanctions targets.”

Mordashov has close relationship with Putin and made billions of dollars as chairman of Severstal, a Russian steel and mining giant.

However, not all of his yachts fled. In April, Italy catch Lady USA super yacht at the port of Imperia after the European Union blacklisted Mordashov. However, that yacht is valued at just $27 million and is only 215 feet long.

The Nordby contrast, it spans 465 feet and is valued at half a billion dollars. One Cruise time The video of the ship, made by a German shipyard, has garnered more than 570,000 views on YouTube.

Register Fortune feature email list so you don’t miss our biggest features, exclusive interviews and surveys.

kignews

Kig News: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button