Russian steel Oligarch Alexey Mordashov has been sanctioned by several countries, and his superyacht “Nord” was found moored in Hong Kong waters. A partner at the Hong Kong law firm ONC Lawyers told the media that many Russian companies are seeking cooperation with Hong Kong law firms.
Some scholars and current affairs commentators have analyzed that the berthing incident is a blatant challenge to the sanctions rules of Western countries, and Hong Kong has become the financial center of the “Axis of Evil.” A U.S. State Department spokesman warned that some may use Hong Kong as a safe haven for evading sanctions, raising questions about the transparency of the city’s business environment.
