Hong Kong Refuses U.S. Calls To Seize Sanctioned Billionaire’s Docked Superyacht
Headline from Forbes
Unilateral sanctions have “no legal basis” in Hong Kong and the city will not seize the $521 million superyacht linked to a Russian steel tycoon docked in its harbor, chief executive John Lee said.
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The 141.6 meter-long superyacht Nord docked in Hong Kong last week. It is allegedly owned by Russian steel tycoon Alexey Mordashov, who is a target of US sanctions.
Hong Kong's leader John Lee says he will only implement United Nations-imposed sanctions after the U.S. warned that the territory's status as a financial center could be hurt if it
Unilateral sanctions have “no legal basis” in Hong Kong and the city will not seize the $521 million superyacht linked to a Russian steel tycoon docked in its harbor, chief executive John Lee said.