Hong Kong will not seize the yacht of a Russian billionaire who is under sanctions.
John Lee said that Hong Kong would be accountable to the UN sanctions but not the ones imposed by individual jurisdiction.
One of the richest men in Russia is the owner of the boat.
He arrived in Hong Kong after sailing from Russia.
Mr Mordashov isn't thought to be on it. The US, the UK and the EU imposed sanctions on the billionaire after Russia invadedUkraine.
The Hong Kong government said it wasn't bound by the sanctions. The Russian flag is flying at the mast of the multi-storeyNord superyacht in the city's Victoria Harbour.
"We will comply with United Nations sanctions, that is our system, that is our rule of law," said Mr Lee, who has himself been sanction by the US for his role in implementing Hong Kong's repressive national security law.
The US, EU and UK have imposed sanctions on Russians. China has not condemned the invasion of Ukraine by Russia.
A US State Department spokesman said that Hong Kong's reputation as a financial center depends on adherence to international laws and standards. The transparency of the business environment has been called into question due to the possible use of Hong Kong as a safe haven by individuals evading sanctions.
It's not clear how long the yacht will stay in Hong Kong.
The spokesman for Mr Mordashov said he was in Moscow. According to Forbes, he was Russia's richest man prior to the war in Ukraine, with a $29.1 billion fortune.
He is thought to have the biggest yacht asset. According to Forbes, the yacht is one of the most extravagant boats in the world.
The 215ft Lady M was seized by Italian police in the port of Imperia and lost its owner.
Several Russian boats have been denied entry to European ports this year because of the war in Ukraine.
The movement of such boats to areas around the world considered beyond the reach of Western sanctions has been prompted.
All Rights Reserved © 2024
