A $500M superyacht linked to a sanctioned Russian billionaire has docked in Hong Kong. Hong Kong's leader says the city won't seize it.
“We will comply with United Nations sanctions,” Lee said at a news conference. “We cannot do and we will not do anything that has no legal basis.”and has vetoed all attempts to take action on Ukraine, which could include sanctions against individuals like Mordashov.
Lee’s comments came after the State Department said in a statement Monday that it would “strongly encourage all jurisdictions to take actions under their domestic authorities to help implement sanctions imposed by the United States and more than 30 other countries.” It added that “Hong Kong’s reputation as a financial center depends on adherence to international laws and standards,” and “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.”
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
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Hong Kong nixes U.S. sanctions on Russian-owned superyachtA $500M superyacht connected to a Russian tycoon, believed to have close ties to President Putin, has docked in Hong Kong. The U.S warns the territory's status as a financial center could be affected if it acts as a safe haven for sanctioned individuals.
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Hong Kong won't seize the yacht of a sanctioned oligarch in its watersHong Kong says it won't seize the $500 million Russian oligarch yacht docked in its waters, as there is 'no legal basis' for the move
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