A Russian oligarch’s $500M mega yacht shows up in Hong Kong

A megayacht has docked in one of Asia's leading financial centers.

Russian billionaire Alexei Mordashov's 142m Nord megayacht has been spotted in Hong Kong. A vessel worth about $500 million docked in one of Asia's leading financial centers last week. News agencies reported, citing data from the Hong Kong Maritime Department, that the yacht had arrived from Vladivostok.

Although the owner of the luxury yacht was not seen on board, the appearance of the megayacht in Hong Kong did not go unnoticed by the press. Pictures of Nord, owned by a sanctioned Russian billionaire, made headlines.

Alexey Mordashov is a steel and mining magnate, as well as the owner of a large retail business. In recent years, he has been one of the richest residents of the Russian Federation. In March, he was included in the sanctions lists of the European Union and the US State Department.

This spring, after the adoption of the next package of sanctions, the ships of Russian billionaires were under the threat of confiscation. News agencies reported that several megayachts associated with Russian businessmen were arrested in a number of countries. In particular, it was reported that Andrei Melnichenko's yacht "A" was arrested, as well as "Lady M" Mordashov and "Lena", co-owner of Novatek, Gennady Timchenko, were detained.

In June, it became known that Mordashov had re-registered the Nord yacht in Russia. Previously, the vessel sailed under the flag of the Cayman Islands, one of the most popular jurisdictions among yacht owners. Prior to the imposition of sanctions, Nord was located in the Seychelles.