Hong Kong will not impose sanctions on a megayacht linked to Putin’s allies

Hong Kong will not impose sanctions on a megayacht linked to Putin’s allies

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Hong Kong said Friday it would not respond to “unilateral” Western sanctions after a luxury megayacht linked to one of Russia’s wealthiest oligarchs docked in its waters.

The ship, named Nord, is reportedly linked to billionaire Alexei Mordashov, one of the many oligarchs close to Russian President Vladimir Putin who have been sanctioned by the United States, European Union and Britain after invading Ukraine.

Authorities in Spain, Italy, France and Fiji have seized yachts linked to pro-Putin sanctioned oligarchs to try to pressure him.

However, Hong Kong has said it will take no such action after the 142-metre yacht was spotted west of the city by eagle-eyed locals on Thursday.

The Navy Ministry said it was implementing United Nations sanctions but not those imposed by individual nations or blocs.

“The Hong Kong government does not implement unilateral sanctions imposed by other jurisdictions, nor do we have the legal authority to act against them,” a spokesman told AFP on Friday.

Mordashov, the majority shareholder in steelmaker Severstal, is among Russia’s super-rich who have long been big buyers of superyachts — leisure vessels longer than 100 feet.

These yachts have become targets for Ukraine’s western allies, who hunt for the assets of sanctioned figures to punish Moscow for invading Ukraine.

The Nord sailed to the eastern Russian port of Vladivostok after the war began and has been anchored there since March, Bloomberg News reported.

Navy tracking websites showed the $500 million ship, outfitted with two helipads, a movie theater and more than a dozen luxury cabins, as it left Vladivostok last week.

It initially indicated that it would head for the Vietnamese port of Da Nang.

A spokesman for Mordashov told Bloomberg News on Thursday that the billionaire was in Moscow and declined to comment on the yacht’s movements.

In March, Italy seized the Lady M, a yacht owned by Mordashov, citing EU sanctions.

Ships arriving in Hong Kong are required to provide a list of crew members and passengers who need to clear through immigration.

According to the Hong Kong Standard newspaper, foreign yachts are not allowed to stay longer than 182 consecutive days.

Hong Kong’s current leader, John Lee, is himself being sanctioned by the United States, along with several local and mainland Chinese officials, for their ongoing crackdown on political liberties in the business hub.

China has notably not condemned the invasion of Ukraine, saying it has a “borderless” relationship with Russia.

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