- According to the FT, the US warned Hong Kong not to become a “safe harbor” for sanctioned Oligarchs.
- Alexei Mordashov was sanctioned as a billionaire. His yacht, worth $500 million, was moored in a Hong Kong port Friday.
- A spokesperson for the Hong Kong Marine Department stated that the city doesn’t have the authority or the right to impose sanctions.
After a superyacht valued at $500 million was found moored within one of Hong Kong’s harbors, the US warned Hong Kong to not provide a safe haven for sanctioned oligarchs. Financial Times report.
The yacht is called Nord and believed be to belong to Alexei Mordashov (Russia’s third-richest person). Friday docked at Hong KongBloomberg reported that after setting out a course for Vietnam initially, the company changed its mind.
According to the report, Nord was ananchored at Vladivostok in south east Russia from late March through September 28. Marine Traffic vessel tracking siteIt is important to have In March, I left the SeychellesWhen the sanctions were implemented.
The US government is trying to stop China’s territory from harboring assets under the Russian flag. They claim that the reputation of the city as a financial hub depends on compliance with international laws and standards.
“The possibility that Hong Kong could be used as a safe haven for individuals evading sanctions by multiple jurisdictions further questions the transparency of business environment,” a spokesperson from the US State Department told the FT.
A spokesperson from Hong Kong’s marine division told the FT Friday that sanctions against Mordashov and other oligarchs are unlikely in the city.
The spokesperson stated that certain countries could impose unilateral sanctions on certain locations based on their own considerations.
“The Hong Kong [government]”We do not have the legal authority to implement unilateral sanctions imposed in other jurisdictions.
Ryan Mitchell, an assistant professor from the Chinese University of Hong Kong told the paper that Hong Kong businesses could face “secondary sanctions” if it does business with sanctioned Russia people.
Mordashov is a steel and mining tycoon Valued at $18.5 BillionThe authorized the US?, UKThe, and EUPutin had ordered the entry of Russian troops into Ukraine.
Many of his assets were not able to escape the sanctions Nord has imposed to date. Both were taken by Italy. $71 million yachtYou can also find out more about a $116 million villa in SardiniaMordashov, Reuters first reported.
Mordashov was subject to EU sanctions. TASS, a Russian news agencyHe said he was “absolutely not involved in the emergence of current geopolitical tension” but didn’t know how to target him to end the conflict.
