alexey mordashov yacht nord

Hong Kong nixes U.S. sanctions on Russian-owned superyacht

Hong Kong’s leader, John Lee, said Tuesday he will only implement United Nations sanctions, after the U.S. warned the territory’s status as a financial center could be affected if it acts as a safe haven for sanctioned individuals .

Lee’s statement Tuesday came days after a luxury yacht connected to Russian tycoon Alexey Mordashov docked in the city.

Mordashov, who is believed to have close ties to Russian President Vladimir Putin, was sanctioned by the U.S., U.K. and the European Union in February after Russia’s invasion of Ukraine. Hong Kong authorities have said that they do not implement unilateral sanctions imposed by other governments.

“We cannot do anything that has no legal basis,” Lee told reporters. “We will comply with United Nations sanctions, that is our system, that is our rule of law,” he said.

A U.S. State Department spokesperson said in a statement Monday that “the possible use of Hong Kong as a safe haven by individuals evading sanctions from multiple jurisdictions further calls into question the transparency of the business environment.”

The State Department spokesperson also said the city’s reputation as a financial center “depends on its adherence to international laws and standards” and that U.S. companies “increasingly view Hong Kong’s business environment with wariness” due to an erosion of Hong Kong’s once high degree of autonomy and its freedoms.

The $500-million superyacht Nord, allegedly owned by Mordashov, moored in Hong Kong’s harbor on Wednesday following a weeklong journey from the Russian city of Vladivostok.

Mordashov is one of Russia’s richest men, with an estimated wealth of about $18 billion. He also is the main shareholder and chairman of Severstal, Russia’s largest steel and mining company. Mordashov has tried to challenge the sanctions against him in European courts.

U.S. and European authorities have seized over a dozen yachts belonging to sanctioned Russian tycoons to prevent them from sailing to other ports that are not affected by the sanctions. So Russian oligarchs have begun docking their yachts at ports in places like Turkey, which has maintained diplomatic ties with Russia since the war began.

The Nord measures 141.6 meters (464.6 feet), has two helipads, a swimming pool and 20 cabins. It is operating under a Russian flag.

Beijing sets foreign policy for Hong Kong and has demurred from participating in sanctions against Russia for its attack on Ukraine.

Britain handed control over its colony Hong Kong to China in 1997, promising to respect its semi-autonomous status as a separate economic and customs territory. The semi-autonomous city’s status as an international business hub and financial center has suffered in recent years after Beijing imposed a tough national security law on the city, aimed primarily at stamping out dissent following months of antigovernment protests in 2019.

Critics say the security law, which in certain cases allows for suspects to be transferred to mainland China for trial in its opaque legal system, could threaten Hong Kong’s rule of law.

Following passage of the law in 2020, the United States sanctioned Lee, then Hong Kong Chief Executive Carrie Lam and other Hong Kong and mainland Chinese government officials, for “undermining Hong Kong’s autonomy and restricting the freedom of expression or assembly.”

Lee blasted the ban on personal and official travel to the U.S. and access to the American financial system.

He was responding to a question of whether he is paid in cash, as was the case for Lam, who was also placed under U.S. sanctions that limit the ability of those designated for such penalties to transfer funds across national boundaries or convert them into different currencies.

“The second thing about the so-called sanction imposed on people in Hong Kong without justification, it is a very barbaric act, and I’m not going to comment on the effect of such barbaric act, because officials in Hong Kong do what is right to protect the interests of the country, and the interests of Hong Kong, so we will just laugh off the so-called sanctions,” Lee said.

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Revealed: Luxury interior of Russian oligarch’s $500m superyacht after he sails it to Vladivostok ‘to evade Western sanctions’

The sumptuous interior of a sanctioned Russian oligarch’s yacht was exposed after customs officers posted a video on social media .

Alexei Mordashov’s $500 million floating palace Nord docked in Vladivostok after he reportedly feared it would be seized in the Seychelles .

Normally Moscow ’s billionaire set ply the waters of more exotic locations, and the sight of the 465ft Nord has stunned locals in Russia’s Pacific capital.

They are rushing to take selfies with the elite vessel, and customs officers who inspected the ship on arrival in port.

They were escorted around the ship by one of the crew, wearing shorts.

The video shows how well 56-year-old oligarch Mordashov - worth $21.2 billion according to Forbes - has done since he graduated from Northumbria University in England.

“We can see the interiors of several decks, Toyota Land Cruiser Prado cars, all-terrain vehicles, jet skis, motor boats, and a bathyscaphe,” said one local media account.

On a tour of the ship, a customs officer looks inside the 5-star facilities and says: “Business class room.”

The crew member corrects him saying: “First class”.

A customs man inspects one of several drinks cabinets, and comments disapprovingly: “No Russian vodka.”

The oligarch’s study was shown, and a shower room and pantry.

Mordashov is the main owner of Severstal, Russia’s largest steel and mining company.

Due to the video, the smart interior of the ocean-going yacht with its own swimming pool has been exposed for all to see.

“This is how the wealthy live even when they’re sanctioned,” said one comment.

“Mordashov won’t get any sympathy here.”

Andrey Prokopchuk, a trade unionist, said: “Previously, serious guys used to tattoo the word ‘North’ [Nord] on their arms.”

It meant they had served time in a jail in Siberia or the Arctic.

“Today our serious boys have changed and named their mega-yachts like this.”

Others were more sympathetic.

“I am amazed at the ingenuity of the owner of this beauty,” said Yulia Ivanova.

“To sail this work of art for 20 days to its native land.”

The yacht costs $50 million to run but it remains out of reach of Western countries while in Russian waters.

Another Mordashov yacht worth $71 million and property worth $116 million was seized in Italy due to EU sanctions.

“I have absolutely nothing to do with the emergence of the current geopolitical tension and I do not understand why the EU has imposed sanctions on me,” he told Russian state news agency TASS.

Nord sails under a Cayman Islands flag.

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Sanctioned Russian billionaire's $500 million superyacht leaves Russia after 7 months to sail to Hong Kong

• A superyacht owned by a sanctioned Russian billionaire left Russia after seven months for Hong Kong.
• Alexei Mordashov, Russia's third-richest person, is said to be the owner of $500 million Nord.
• Nord first listed Vietnam as its destination but changed to Hong Kong days later, per Bloomberg.

A $500 million superyacht belonging to a sanctioned Russian billionaire has sailed to Hong Kong after being docked in Russia for more than seven months.

Alexei Mordashov, a steel and mining tycoon, is believed to be the owner of the 465-foot vessel called Nord, per SuperYacht Fan . Nord was anchored in the port of Vladivostok, south east Russia, from late March until September 28 when it departed, according to data from vessel-tracking site, Marine Traffic .

After one week of sailing, Mordashov's luxury yacht ended up mooring in Hong Kong port on Wednesday, per Marine Traffic. Bloomberg reported Nord initially listed a port in Vietnam as its destination, but changed to Hong Kong a few days later.

Following the Russian invasion of Ukraine, Nord set sail on March 12 from the Seychelles and was tracked in the Singapore Strait on March 22, Insider previously reported, citing Marine Traffic data. From there, it traveled to Vladivostok, where it remained for over seven months.

Since February, the West has launched barrages of sanctions against Russia to cripple its economy and put pressure on President Vladimir Putin to call off Moscow's invasion of Ukraine. The measures include sanctioning wealthy Russian elites and oligarchs by freezing their assets such as private jets and superyachts.

Mordashov has an estimated net worth of about $18.7 billion, making him Russia's third richest person, according to Bloomberg's Billionaires Index . He was sanctioned by the UK , EU , and the US after Moscow began its attack on Ukraine.

Related stories

The day after he was hit with EU sanctions, Mordashov told the Russian news outlet TASS he had "absolutely nothing to do with the emergence of the current geopolitical tension" and didn't understand why he had come under sanctions.

So far, Nord has seemed to evade seizure or being frozen. However, some of Mordashov's other assets haven't been so lucky. In March, Italy seized a $71 million superyacht connected to Mordashov, as well as a $116 million property on the island of Sardinia, Reuters   reported .

According to UK filings , Mordashov transferred control of a $1.1 billion stake in Nordgold, a mining firm, to his wife and stepped down as a director.

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A Russian Oligarch’s $500 Million Megayacht Just Mysteriously Arrived in Hong Kong

The lürssen vessel nord is connected to the third-richest man in russia., tori latham, tori latham's most recent stories.

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Ever since Russia invaded Ukraine earlier this year, authorities have been keeping an eye on the megayachts owned by Russian oligarchs and allies of Vladimir Putin. One such vessel just mysteriously turned up in Hong Kong.

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The 465-foot Lürssen vessel in question, which contains two helipads, a cinema and 20 luxury cabins, left Vladivostok on September 27 and was initially headed for the Vietnamese port of Da Nang. However, it soon changed its route to Hong Kong and has been anchored there since Wednesday night, according to Bloomberg. It has also changed its flag from the Cayman Islands to Russia. A spokesperson for Mordashov told the publication that he was currently in Moscow and declined to comment on the yacht’s movement.

Since Putin began his war in Ukraine in February, more than a dozen yachts owned by Russian oligarchs have been seized by Western governments as a form of punishment for the owners having ties to the Russian president. In total, the seized yachts add up to more than $2.25 billion, and others have been immobilized in ports and naval yards across Europe.

The US has even formed a special task force, KleptoCapture, to go after Russian billionaires’ assets. Earlier this year, the unit helped seize Amadea , a $325 million superyacht supposedly owned by the gold tycoon Suleiman Kerimov.

To evade capture, some yacht owners have moved their vessels to the sanction-free waters of Russia and Turkey. But now that Mordashov’s Nord has turned up in Hong Kong, it’s unclear what will happen to it. One thing’s for certain, though: Despite its considerable size, the 465-footer is proving to be quite elusive.

Tori Latham is a digital staff writer at Robb Report. She was previously a copy editor at The Atlantic, and has written for publications including The Cut and The Hollywood Reporter. When not…

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Yacht NORD – Elite $500M Superyacht

Owned by Russian billionaire businessman, yacht NORD is the tenth biggest yacht in the world.

The annual running costs are an incredible $40 Million per year due to her massive 142-meter length.

Yacht NORD interior

The interior of the NORD yacht was developed by Nuvolari Lenard, an Italian yacht designer who also worked on the exterior of the impressive vessel.

Twenty-four guests can be accommodated in twelve luxurious cabins, including a spacious owner’s suite. There is additional space below the deck for up to 40 crew members.

Although exact details of the interior of NORD remain private and unknown to the public, the yacht is said to have two elevators, a large gym, a sauna, a beauty salon, and a cinema.

Lenard and his design studio are known for their upscale and aesthetically pleasing layouts, which are usually kept in earth tones and natural colors.

The Italian designer also worked on Mordashov’s smaller yacht, the LADY M, where he designed both the interior and exterior.

NORD specifications

The NORD yacht has a total length of 142 meters (465.1 ft). Her beam is 19.5 meters (64 ft) long, and her draft measures 5.4 meters (17.9).

The massive yacht weighs 9,259 tons. Her four MTU engines allow her to reach top speeds of 25 knots, although her average cruising speed lies closer to 20 knots.

NORD exterior

The exterior of the NORD yacht was designed by Nuvolari Lenard and his experienced Italian design studio which is considered one of the most exclusive in the world.

The yacht is white with dark blue elements on the top decks, creating a streamlined effect and making the vessel appear even more elegant.

She has two separate helipads, one of which even has a collapsible helicopter hangar that can store smaller aircraft.

On the aft of the yacht, there is a sizeable swimming pool and beach club. NORD has a high-quality steel hull and impressive aluminum superstructure. 

The owner purchased NORD for a price of US $500 million in 2021. The yacht is estimated to incur running costs of US $40 to 50 million annually.

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Russia’s richest man, Alexei Mordashov, has secretly moved his gigantic 465-foot megayacht, Nord, to Abu Dhabi. Will this $500 million ‘Houdini of the high seas’ now make the UAE its new home?

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