# Luxury yacht owned by sanctioned Russian oligarch docked in Hong Kong
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-10-07
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Luxury Yacht of Sanctioned Russian Oligarch Alexey
Meta Description: Luxury yacht Nord, belonging to Alexey Mordashov, arrived in Hong Kong waters from Russia amidst sanctions by US and EU over Ukraine invasion.
URL: https://financedigest.com/luxury-yacht-owned-by-sanctioned-russian-oligarch-docked-in-hong-konghtml

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By Tyrone Siu

HONG KONG (Reuters) – A luxury yacht worth over half a billion U.S. dollars belonging to sanctioned Russian oligarch Alexey Mordashov has docked in [Hong Kong](https://www.financedigest.com/hong-kong-finance-official-to-make-first-visit-to-britain-in-three-years.html "Hong Kong finance official to make first visit to Britain in three years") waters, according to shipping records, after a week-long voyage from Russia.

Mordashov was among a number of Russian oligarchs sanctioned by the European [Union and the United States](https://www.financedigest.com/ukraines-first-lady-to-be-guest-of-honor-at-eu-state-of-union.html "Ukraine’s first lady to be guest of honor at EU State of Union") after Russia’s invasion of Ukraine for their links to President Vladimir Putin.

The vessel tracking website, Marine Tracker, showed the yacht, Nord, arrived in [Hong Kong](https://www.financedigest.com/citadel-accelerates-hiring-push-in-hong-kong-and-london.html "Citadel accelerates hiring push in Hong Kong and London") on October 5, after a voyage of seven days from Vladivostok in the Russian Far East, down through the Sea of Japan and East China Sea.

The [Hong Kong](https://www.financedigest.com/screening-of-winnie-the-pooh-horror-film-cancelled-in-hong-kong.html "Screening of ‘Winnie the Pooh’ horror film cancelled in Hong Kong") government’s marine department did not immediately respond to Reuters questions on whether it was aware of the sanctions imposed on the vessel’s owner.

The multi-storey yacht, with six decks and a helipad, could be seen on Friday docked in waters west of [Hong Kong’s](https://www.financedigest.com/hong-kong-home-prices-drop-15-6-in-2022-snap-13-years-of-gain.html "Hong Kong home prices drop 15.6% in 2022, snap 13 years of gain") iconic Victoria Harbour, flying a Russian flag at the stern.

The 465 foot (141-meter) Nord was manufactured by a German shipyard last year and is one of the [world’s most extravagant luxury](https://www.financedigest.com/top-luxury-car-brands-in-the-world.html "Top luxury car brands in the world") yachts, worth $521 million according to Forbes magazine.

In March, another luxury yacht owned by Mordashov, the 65-metre (215-ft) “Lady M”, was seized by Italian police in the port of Imperia.

In recent months, a number of Russian-owned superyachts have been [moved to parts of the world](https://www.financedigest.com/analysis-at-world-cup-saudi-crown-prince-moves-back-on-to-global-stage.html "Analysis-At World Cup, Saudi crown prince moves back on to global stage") considered beyond the reach of Western sanctions, including Turkey, parts of Asia, and the Caribbean.

Mordashov built his [wealth around the Russian](https://www.financedigest.com/permitted-share-of-chinas-yuan-in-russian-wealth-fund-doubled-to-60-finance-minister.html "Permitted share of China’s yuan in Russian wealth fund doubled to 60% -Finance Minister") steel producer Severstal (CHMF.MM).

Taking into [account the assets](https://www.financedigest.com/making-your-accountant-an-invaluable-asset-to-your-business.html "MAKING YOUR ACCOUNTANT AN INVALUABLE ASSET TO YOUR BUSINESS") of his family, Forbes estimates that Mordashov had an estimated net worth of $29.1 billion before sanctions hit, making him the richest man in Russia.

(Reporting by Tyrone Siu; Writing by James Pomfret; Editing by Raju Gopalakrishnan)


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