South Africa’s government said it has “no reason” to apply sanctions brought against Russian tycoon Alexey Mordashov and that his $500 million megayacht is free to dock at its ports.
Mordashov is the biggest shareholder in steelmaker Severstal PJSC and was sanctioned by the European Union, the UK and US after Russia’s invasion of Ukraine. The mogul’s 465-foot (142-meter) Nord passed north of Banda Aceh, Indonesia, on Tuesday and is expected to arrive in Cape Town on Nov. 9, ship-tracking data compiled by Bloomberg shows.
The Nord headed west on Tuesday with a stated destination of Cape Town, South Africa.
Geordin Hill-Lewis, Cape Town’s mayor and a member of the main opposition Democratic …
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