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Oct. 11 (UPI) -- Hong Kong said Tuesday that it would not seize the superyacht of a Russian oligarch who is under Western sanctions. The $521 million Nord Vessel is linked to Alexei Mordashov, an ally of Russia's President Vladimir Putin and one of the country's richest men. The ship had made the week-long voyage from Vladivostok to Hong Kong.
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Chief Executive John Lee told the BBC that Hong Kong would only abide by United Nations sanctions, but not "unilateral" ones imposed by "individual jurisdictions."
Lee himself is sanctioned by the United States for his role in the government's crackdown on civil liberties.
The United States has said that if Hong Kong continues to assist sanctioned individuals, it could threaten its status as a financial hub.
"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," a U.S. State Department spokesperson told Bloomberg.
Mordashov's spokesman told Bloomberg News the steel tycoon was in Moscow. Prior to the war in Ukraine, he was Russia's richest man, according to Forbes, with a $29.1 billion fortune built through his steel and mining company Severstal.
His Nord yacht features two helipads, a cinema and 20 luxury cabins.
Mordashov previously had another boat seized in March in the Italian port of Imperia.
