Sanctioned Russian’s £470m yacht in Hong Kong with no seizure threat

Russia TV pundits compare war sanctions to Nazi holocaust

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

A Russian superyacht owned by a sanctioned businessman is anchored in Hong Kong, reportedly without any threat of seizure. The Nord has made a more than week-long trip from the warring nation to its destination.

Owner Alexei Mordashov is Russia’s third-richest man.

He is the largest shareholder in Russian steelmaker Severstal and is understood to be close to Vladimir Putin.

His superyacht had been anchored at the port of Vladivostok since March.

This is understood to be worth around £450million.

But Forbes has pinned the figure closer to £470million.

Mordashov was sanctioned by the UK, the EU and the US in February following Russia’s invasion of Ukraine.

A spokesman for the businessman told Bloomberg that he is currently in Moscow.

They declined to comment on the movement of his yacht.

READ MORE: Leo Varadkar’s U-turns on hated Brexit deal as it’s ‘too strict’

Reports suggest more than a dozen yachts owned by sanctioned Russian businessmen have been seized by the US and EU since the beginning of Moscow’s “special military operation” in Ukraine on February 24.

These are collectively worth more than 2.25billion dollars, according to Bloomberg.

Mordashov’s Nord has changed its flag from the Caymans to Russia, likely in a bid to avoid sanctions.

Zelensky’s call for no fly zone rejected [OPINION]
Putin’s army from ‘mysteriously weak’ to ‘brutal’ [REVEAL]
People sensationally blame Brexit for Russia’s chilling invasion [REPORT]

It features two helipads, a cinema and at least 20 luxury cabins.

By March, the US alone had sanctioned over 400 Russian elites and entities.

The West has hoped to send a strong message to Moscow in response to its action in Ukraine – perhaps even to weaken Putin’s regime by battering its support.

Those sanctioned include 328 members of Russia’s Duma who have supported the invasion of Ukraine.

In the UK, Liz Truss has conceded that the Government’s sanctions are weakening our own economy.

But she stressed this was worth it due to the damage being inflicted in Ukraine.

Source: Read Full Article