A superyacht linked to Russian tycoon Alexey Mordashov anchored in Hong Kong this week amid moves by Western governments to seize yachts linked to sanctioned Russian businessmen.
The North megayacht, worth more than $500 million, arrived in Hong Kong on Wednesday afternoon after traveling for more than a week from Vladivostok, Russia, its last port of call.
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Mordashov is one of Russia’s richest billionaires, with an estimated wealth of over $18 billion according to a Bloomberg estimate. He is the main shareholder and chairman of Severstal, Russia’s largest steel and mining company.
It was sanctioned by the United States, United Kingdom and European Union in February after Russia invaded Ukraine. Mordashov has since tried to challenge the sanctions against him in European courts.
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US and European authorities have seized more than a dozen yachts belonging to sanctioned Russian tycoons to prevent them from sailing to other ports not affected by the sanctions. Russian oligarchs have started mooring their yachts in ports in places like Turkey, which has had diplomatic relations with Russia since the start of the war.
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The North, which measures 141.6 meters (464.6 feet), has two helipads, a swimming pool and 20 cabins. The yacht is currently sailing under the Russian flag.