U.S. Warns Hong Kong on Sanctions After Russian Megayacht Turns Up

(Bloomberg) — The U.S. warned Hong Kong that assisting sanctioned individuals could threaten its status as a financial hub, after a megayacht linked to one of Russia’s richest men docked in the city’s harbor.

The $500 million Nord vessel tied to tycoon Alexey Mordashov arrived in Hong Kong on Wednesday, after making a week-long voyage from the Russian city of Vladivostok. Mordashov, believed to be an ally of President Vladimir Putin, was sanctioned by the European Union, the U.K. and the U.S. following Russia’s invasion of Ukraine in February.