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#AceNewsRoom With ‘Kindness & Wisdom’ Oct.27, 2022 @acebreakingnews

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#AceBreakingNews – South Africa will allow a $500 million superyacht linked to sanctioned Russian billionaire Alexey Mordashov to dock in Cape Town, despite a bid by the city’s mayor to block its entry.

On Tuesday, the South African government announced its intention to let the mega yacht, Nord, to dock amid claims that steel and mining magnate Mr Mordashov was seeking a new harbour to shield it from seizure.

A day later, a South African official said Cape Town was perfect for the 141.6-metre-long boat because it has the technical means to maintain luxury yachts that many other harbours do not.

“If you’re parking a $500-million asset, you need it looked after properly,” the official told the Associated Press, on the condition of anonymity because he’s not permitted to speak publicly on the issue.

Vincent Magwenya — spokesman for South African President Cyril Ramaphosa — said there was “no reason” for South Africa to deny the Nord entry as Mr Mordashov was not the subject of United Nations’ sanctions — only sanctions imposed unilaterally by the United States and the European Union.

The mega yacht — which left Hong Kong on a journey across the Indian Ocean to South Africa last week — would be allowed to dock in Cape Town harbour, as long as those on board “abide by our immigration laws”, Mr Magwenya said.

Mr Mordashov is not believed to be on board the yacht.

“Currently there are no UN-imposed sanctions on the particular individual and, therefore, South Africa has no legal obligation to abide by the sanctions that the US and the EU have decided to impose within specific jurisdictions,” Mr Magwenya said. 

Mr Mordashov is thought to have close ties to Russian President Vladimir Putin and was sanctioned by the US and the EU because of the war in Ukraine.

He is the main shareholder and chairman of Severstal, Russia’s largest steel and mining company, and one of Russia’s richest men, with a net worth of more than $20 billion, according to Bloomberg’s Billionaire’s Index.

Cape Town mayor Geordin Hill-Lewis said the Russian has benefited financially from the war in Ukraine and was “an accomplice to the unconscionable crimes committed against Ukrainian civilians”.

He asked the South African government to block the Nord from docking, eliciting the response from President Ramaphosa’s spokesman.

South Africa has adopted a neutral stance on the war in Ukraine, frustrating Western partners, who had hoped that Africa’s most-developed economy would also condemn Russia’s invasion and act as a leading voice for the continent.

The country abstained from a UN vote condemning Russia’s actions and called, instead, for dialogue and diplomacy.

Mr Hill-Lewis is a member of South Africa’s main opposition party, which has been fiercely critical of the neutral stance taken by Ramaphosa’s government.

The fate of the yacht has captured attention since it arrived in Hong Kong from Vladivostok, Russia, earlier this month, sparking a diplomatic row between the US and Hong Kong authorities over the enforcing of sanctions.

AP

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