The South African Government Just Let a Russian Oligarch Dock His $500 Million Megayacht

After making waves on an international scale, Alexey Mordashov’s $500 million megayacht appears to have found safe haven in South Africa.

Nord will be allowed to dock in Cape Town, despite the fact that its Russian oligarch owner has been sanctioned by the European Union, the United Kingdom and the United States. South African opposition leaders had urged the government to seize the 465-footer, but the country’s current leader rejected the call, as reported by the BBC.

“South Africa has no legal obligation to abide by sanctions imposed by the US and EU,” Vincent Magwenya, a spokesman for South African President Cyril Ramaphosa, told reporters. “South Africa’s obligations with respect to sanctions relate only to those that are specifically adopted by the United Nations.”

Western authorities have imposed sanctions on more than 1,000 Russian individuals and businesses in response to President Putin’s invasion of Ukraine. South Africa has so far avoided directly criticizing Russia and abstained from several UN votes condemning the war.

Mordashov—the largest shareholder in the steelmaker Severstal and the third-richest man in Russia—has been targeted by the Western sanctions due to his ties with Putin. The billionaire maintains he has had no involvement in Russian politics and has been fighting the sanctions since May.

Mordashov lost his 215-foot superyacht, Lady M, back in March after it was seized by Italian police. Nord is believed to be his biggest yacht asset, though. Indeed, the vessel, which is larger than a football field, features two helipads, a retractable hangar, a diving center, a swimming pool and 20 staterooms across six decks. It was delivered by German yard Lürssen in November 2020.

After leaving Hong Kong earlier this week, Nord is now en route to South Africa and is expected to moor in Cape Town on November 9, according to Marine Traffic data. The yacht was west of Indonesia as of Wednesday. You can track Nord’s journey via Spire Maritime.