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Sanctioned Russian oligarch yacht transited Strait of Hormuz
The 'Nord' has crossed the Strait of Hormuz on the night of April 24-25, 2026, departing from Dubai and heading for Muscat. The vessel is believed to be owned by Alexey Mordashov, president of Severstal, a Russian steel and mining giant, and is listed on the US blacklist in 2022. The transit through Hormuz took place while Western sanctions against the assets of Russian oligarchs remained formally in place, but are showing increasingly evident operational flaws. The yacht had already left Western waters before the sanctions were tightened. Since then, it has been operating in a geographical area—the Persian Gulf, Arabian Sea, and Indian Ocean—where the application of US and European restrictive measures remained essentially theoretical. The United Arab Emirates, the port of departure for the transit, has not joined the sanctions regime and continues to attract vessels of this profile. Technically, the Dubai–Muscat route via the Strait of Hormuz is one of the most direct sailing options for vessels of this size operating in the Gulf. With a draft and length that are out of scale with many ports in the region, the available ports of call for the vessel are further reduced, making Muscat a suitable destination, as it can accommodate vessels of this profile and operates in a jurisdiction that has not joined the Western sanctions regime.
Oligarch yacht free to dock in Cape Town
South Africa’s government said it has no reason to apply sanctions brought against Russian tycoon Alexey Mordashov and that his $500 million megayacht 'Nord' is free to dock at its ports. Mordashov is the biggest shareholder in steelmaker Severstal PJSC and was sanctioned by the European Union, the UK and US after Russia’s invasion of Ukraine. The mogul’s yacht passed north of Banda Aceh, Indonesia, on Oct 25 and is expected to arrive in Cape Town on Nov 9.
Hong Kong warned to threaten its status after yacht of sanctioned Russian oligarch arrived
The U.S. warned Hong Kong that assisting sanctioned individuals could threaten its status as a financial hub, after the 'Nord', tied to the sanctioned tycoon Alexey Mordashov, arrived in Hong Kong on OCt 11, after making a week-long voyage from the city of Vladivostok. Mordashov, believed to be an ally of dictator Vladimir Putin, was sanctioned by the European Union, the U.K. and the U.S. following Russia’s invasion of the Ukraine on Feb 24.
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