The US has warned that Hong Kong risked becoming a haven for Russian oligarchs after the Chinese territory said it would not enforce western sanctions on a superyacht owned by billionaire Alexei Mordashov that has docked in the city’s waters.
The US state department also said Hong Kong’s business outlook could be further clouded by its government’s inaction as the former British colony’s “reputation as a financial centre depends on adherence to international laws and standards”.
The saga unfolded as the 142-metre Nord, one of the world’s most luxurious superyachts built by German company Lürssen, entered Hong Kong waters on Wednesday. The $500mn vessel has been moored west of the city’s Victoria Harbour.
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