According to Hong Kong, the superyacht of a Russian oligarch who is the target of Western sanctions won’t be taken.
According to chief executive John Lee, Hong Kong will be subject to sanctions imposed by the UN but not “unilateral” ones by “individual jurisdictions.”
Alexei Mordashov, one of Russia’s wealthiest men and a close ally of President Vladimir Putin, is the owner of the $521 million (£472 million) boat.
His yacht made its way from Russia to Hong Kong last week.
However, it’s not believed that Mr. Mordashov is on it. The billionaire was subject to sanctions from the US, UK, and EU following Russia’s invasion of Ukraine earlier this year.
The government of Hong Kong, however, claimed that it was exempt from the sanctions. The multi-story Nord superyacht, which has the Russian flag flying at its mast, has been a noticeable sight in the city’s Victoria Harbour for almost a week.
“We will abide by United Nations sanctions; that is our system, that is our rule of law,” declared Mr. Lee, who has been personally sanctioned by the US for his role in putting Hong Kong’s oppressive national security law into effect.
Numerous Russians and their businesses have been sanctioned by the US, EU, and the UK. China, on the other hand, has continued to support Russia and has not yet denounced Moscow’s decision to invade Ukraine.
