The superyacht linked to the Russian oligarch Nord has mysteriously docked in Hong Kong. The luxury vehicle is one of those affected by western sanctions.
Quotes CNN, Monday (10/10/2022), the western bloc seeks to seize the luxury assets of the Russian elite because of the war in Ukraine. Allied ports are the main targets.
The Nord, a nearly 142-meter yacht said to be one of the largest in the world, was spotted by CNN on Friday in Hong Kong waters. The location is just a few minutes from the downtown district.
The ship is estimated to be worth at least $500 million and is believed to belong to Alexey Mordashov, a Russian industrial billionaire. This information was confirmed by a cruise ship broker.
The cruise ship, 1.5 times the size of an American football field, arrived in Hong Kong on Wednesday from the Russian port of Vladivostok, according to the Chinese city’s Maritime Department.
Superyacht Nord (Photo: CNN)
The government agency told CNN on Friday that it had not been informed about when the cruise ship would depart for its next destination.
On Friday afternoon, Nord was seen flying the Russian flag with the name of its base, Vladivostok, emblazoned on the stern. Several people, apparently crew members wearing uniforms, were seen on the ship’s deck.
Mordashov is one of Russia’s richest billionaires, with an estimated net worth of UD 18.7 billion, according to the Bloomberg Billionaires Index. The number is down $10 billion so far this year, according to the wealth tracker.
The tycoon is the chairman of Severstal, the Russian steel and mining giant, which at last count had 54,000 employees in 69 countries.
The United States is not the only country cracking down on Russian tycoons. Several Russian-linked superyachts have been secured this year, including in Spain, Germany and the UK.
Mordashov has challenged sanctions against him in European courts. He argued that an EU court should overturn the decision for adding him to the list of those convicted of Russia’s invasion of Ukraine.
Meanwhile, Hong Kong may provide cover. Hong Kong’s Maritime Department said it would not comment on every case from incoming ships.
The city only requires overseas yacht owners to obtain permission from the authorities in order to enter, including showing proof of insurance, according to the Marine Department.
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