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US Warns Hong Kong on Sanctions After Russian Megayacht Turns Up

  • Megayacht linked to Russian oligarch docks in Hong Kong waters
  • Sanctioned tycoons may try to avoid curbs using financial hub
Bloomberg business news
WATCH: A $500 million cruiser connected to a sanctioned Russian tycoon has been spotted anchored in Hong Kong’s waters. Stephen Engle reports.Source: Bloomberg

The US warned Hong Kong that assisting sanctioned individuals could threaten its status as a financial hub, after a megayacht linked to one of Russia’s richest men docked in the city’s harbor. 

The $500 million Nord vessel tied to tycoon Alexey Mordashov arrived in Hong Kong on Wednesday, after making a week-long voyage from the Russian city of Vladivostok. Mordashov, believed to be an ally of President Vladimir Putin, was sanctioned by the European Union, the UK and the US following Russia’s invasion of Ukraine in February.