Yacht owned by sanctioned Russian tycoon docks in Hong Kong

HONG KONG (AP) — A superyacht connected to Russian tycoon Alexey Mordashov has anchored in Hong Kong as Western governments move to seize yachts connected to sanctioned Russian businessmen. The Nord, worth over $500 million, arrived in Hong Kong this week after sailing from Vladivostok, Russia. Mordashov is one of Russia’s richest billionaires and chairman of Severstal, Russia’s largest steel company. He was sanctioned in February after Russia invaded Ukraine and is challenging those sanctions in European courts. U.S. and European authorities have seized over a dozen yachts belonging to sanctioned Russian tycoons to prevent them from sailing to other ports unaffected by sanctions.