John Lee says monetary hub will solely implement UN sanctions after yacht linked to Russian tycoon anchors in metropolis.
Hong Kong’s chief has stated the monetary hub is not going to uphold sanctions with “no authorized foundation” after a superyacht linked to a sanctioned Russian oligarch was allowed to anchor within the metropolis.
Hong Kong Chief Govt John Lee stated on Tuesday that Hong Kong would adjust to United Nations sanctions however wouldn’t act on measures imposed by particular person international locations.
“That’s our system, that’s our rule of regulation,” Lee stated throughout a daily press convention. “We can not do and won’t do something that has no authorized foundation.”
Lee, who’s himself below United States sanctions over his function in cracking down on dissent in Hong Kong, made the comment after the US State Division warned that harbouring the Nord, a megayacht believed to be owned by Russian tycoon Alexey Mordashov, might hurt the town’s popularity as a global monetary centre.
Mordashov, a billionaire metal magnate, is amongst a number of rich Russians sanctioned by the US, the UK and the European Union over their alleged hyperlinks to the Kremlin following Russia’s invasion of Ukraine.
Mordashov, the chairman of Russia’s largest metal firm Severstal, has challenged the sanctions in European courts and insisted he has nothing to do with “the present geopolitical tensions”.
As everlasting members of the UN Safety Council, each China and Russia have a veto over worldwide sanctions.
The Nord, which has two helipads and a swimming pool and is value an estimated $500m, has been within the semi-autonomous Chinese language territory since Wednesday following visits to the Maldives, Seychelles and Vladivostok.
Officers within the Chinese language territory earlier stated they’d not implement sanctions imposed by particular person international locations or blocs following the megayacht’s arrival within the metropolis.
Whereas US and European authorities have seized greater than a dozen yachts believed to be owned by sanctioned Russian tycoons, some luxurious yachts have travelled to jurisdictions with friendlier ties with Russia to keep away from seizure, together with Turkey.
China has declined to sentence Russia’s struggle in Ukraine and has criticised Western-led sanctions in opposition to the nation for example of “long-arm jurisdiction that don’t have any foundation in worldwide regulation”.