Russian Superyacht Nord Transits Strait of Hormuz During Iran Blockade
The 142m-long superyacht, Nord, associated with Russian billionaire Alexey Mordashov, has sailed through the Strait of Hormuz, a waterway largely avoided by private vessels since the imposition of Iranian restrictions. The yacht, valued at over USD#500 million, travelled from Dubai to Muscat, Oman, over the weekend, according to Marine Traffic data.
Mordashov, the chairman of Russia's largest steel and mining company, Severstal, has faced Western sanctions from the UK, US, and EU following Russia's 2022 invasion of Ukraine. While he is not the formal owner, Nord's registration was linked to a firm owned by his wife in 2022. Hong Kong and the Maldives have previously declined to seize the yacht despite Western requests to freeze Mordashov's assets.
Iran has maintained its restrictions on shipping through the Strait of Hormuz since US forces initiated a blockade on Iranian ports, a move that underpins the region's current instability and contributes to elevated global oil prices. Brent crude reached USD#109 a barrel on Monday. Approximately one-fifth of global crude oil and liquefied natural gas (LNG) supplies typically transit this channel.
Tehran has amplified its diplomatic outreach to Moscow amidst ongoing tensions with Washington. Russian President Vladimir Putin hosted an Iranian delegation in St Petersburg, where Iranian Foreign Minister Abbas Araghchi lauded their "strategic relationship." Putin reportedly told Araghchi that the Iranian people were "courageously fighting" for their sovereignty against American and Israeli pressure, as reported by the Russian state-run news agency Tass. Araghchi's social media posts depicted cordial meetings with Putin and his Russian counterpart, Sergei Lavrov, with the minister acknowledging Russia's "solidarity and support for diplomacy."
