Hong Kong unwilling to enforce sanctions U.S. warns of Hong Kong waters becoming a safe haven for sanctioned Russian owned superyachts…Tensions between the U.S. and China ramped up last week when the 142m Lürssen Nord, owned by sanctioned Russian billionaire Alexey Mordashov, arrived and moored in Hong Kong waters. As reported by Reuters, John Lee, Hong Kong’s leader told reporters “we cannot do anything that has no legal basis”. Elaborating on his statement Lee said Hong Kong would only abide by United Nations sanctions, which Mordashov is not included in. The spokesman continued: “Hong Kong’s reputation as a financial centre depends on adherence to international laws and standards.”Responding to said comments, China’s Foreign Ministry in Hong Kong accused the U.S. State Department of smearing Hong Kong’s business environment: “Hong Kong’s reputation and status as an international financial centre are globally recognised and brook no vilification,”. Lee has criticised sanctions imposed by the U.S. on Hong Kong officials for their hand in implementing restrictions to freedoms under Chinese security law: “officials in Hong Kong do what is right to protect the interests of the country in the interests of Hong Kong”.

Source: Forbes October 11, 2022 15:17 UTC