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Sanctioned Russian Tycoon’s Yacht Docks in Hong Kong

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Sanctioned Russian Tycoon’s Yacht Docks in Hong Kong: This week, a superyacht linked to Russian businessman Alexey Mordashov docked in Hong Kong amid efforts by Western countries to confiscate boats tied to Russian businesspeople who have been subject to sanctions.

The over $500 million megayacht Nord made its way from Vladivostok, Russia, where it was last seen, to Hong Kong on Wednesday afternoon.

According to a Bloomberg assessment, Mordashov is one of Russia’s wealthiest billionaires, with an estimated net worth of more than $18 billion. Severstal, Russia’s largest steel and mining corporation, has him as its majority shareholder and chairman.

After Russia invaded Ukraine in February, he was subject to sanctions from the United States, the United Kingdom, and the European Union. Since then, Mordashov has tried to appeal the punishments imposed on him in European courts.

U.S. and European officials have confiscated more than a dozen of their boats to stop Russian business people from sailing to ports that are not subject to the restrictions. Since the start of the conflict, Turkey has maintained diplomatic connections with Russia, and Russian billionaires have started mooring their boats there.

Twenty cabins, two helipads, a pool, and 141.6 meters (464.6 feet) in length make up the Nord. Currently, the boat is operating under the Russian flag.

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