Hong Kong reiterated its stand on the luxury megayacht—linked to a sanctioned Russian oligarch—that is docked in its waters. Hong Kong leader John Lee told reporters on Tuesday (October 11) that the city has “no legal basis” to act on Western sanctions.
Media reports have noted that the vessel named Nord, belongs to billionaire Alexei Mordashov. He is one of the Russian oligarchs, who have been sanctioned by the United States, the European Union, and Britain as a result of the invasion of Ukraine. Mordashov is said to be close to President Vladimir Putin.
ALSO READ | As N.Korea ramps up missile tests, South Korean President says it has ‘nothing to gain from nuclear weapons’
Regarding the luxury yacht, The US State Department criticised Hong Kong authorities for allowing it to dock in Hong Kong waters last week. The US said that the use of Hong Kong by individuals evading sanctions from multiple jurisdictions could carry reputational risks and call into question the “transparency” of the financial hub’s business environment.
According to the US, using Hong Kong to evade sanctions from several jurisdictions might have the danger of damaging their reputations and casting doubt over the “transparency” of the financial hub’s business environment.
WATCH | Gravitas: Elon Musk’s solution for China-Taiwan conflict
ALSO READ | China’s use of technology is a threat to global security, warns UK spy chief
Now Lee said that “we cannot do anything that has no legal basis.” He added that Hong Kong instead would only abide by UN sanctions. “We will comply with United Nations sanctions, that is our system, that is our rule of law,” he said.
Mordashov is a Russian billionaire, who is among a number of Russian oligarchs sanctioned by the European Union and the United States. But he was not United Nations.
Meanwhile, the 465-foot yacht was spotted prominently berthed in waters west of Hong Kong’s famous Victoria Harbour, despite a number of Russian superyachts having been impounded or denied admission in Europe and other jurisdictions. Reports have stated that it is worth more than $500 million.
(With inputs from agencies)
WATCH WION LIVE HERE
You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.
