Hong Kong and the oligarchs' superyachts: "Sanctions against Moscow are ridiculous"
Sanctions are forcing oligarchic shipowners close to Putin to seek new ports, even in the Far East.
China is attracting a Russian economy, inevitably overwhelmed by sanctions, in several respects. Moscow, in short, is seeking new partners for its raw materials, but not only that. Among Putin's new frontiers is the Chinese naval sector, whose navy now welcomes the superyachts of oligarchs fleeing the Mediterranean. Beijing, in short, is not backing down and continues its undeniably anti-Western stance, while also exaggerating its disagreements with Washington.
Among the welcoming nautical paradises that are unconcerned about deaths and the consequences for Ukraine, besides Turkey, is Hong Kong. John Lee, the former British colony's executive leader, explained that "there is no legal basis for taking action against Russian superyachts." Everything revolves around Alexei Mordashov's 465-foot Nord, which docked about a month ago in the vertical city's harbor.
Mordashov is one of the oligarchs targeted by international sanctions. Ironically, John Lee has also been hit by Washington's sanctions for his role in the Hong Kong protests, which he famously suppressed with a heavy hand.
Regarding Russia, Lee said the sanctions were "a very barbaric measure," and explained that Hong Kong would do what was "right" to protect the city's and the country's interests. "We will just laugh at the so-called sanctions," Lee concluded on the sidelines of a summit held this month.
Alexei Mordashov, with an estimated net worth of $29.1 billion, is considered Russia's richest man and the largest shareholder in Severstal, Russia's largest steel and mining company.
The 141-meter Nord is estimated to be worth more than $500 million and only found its way to Hong Kong after numerous vicissitudes in recent months, which saw the superyacht first in Turkish and Asian waters, but also in the Caribbean. Another vessel linked to the oligarch, the Lady M, was seized by Italian police in the port of Imperia, just a month after the conflict in Ukraine began.
Russian yachts have also set sail for Korean waters. The Asian country has become less of a nautical paradise than an easy destination for the mini-diaspora, primarily Russians fleeing the hastily called rally to arms by Putin last month. According to Reuters, at least 20 sailing yachts attempted to reach Korea's northern Pacific coast, but almost all of their passengers were turned away by the country's port authorities.
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