A superyacht owned by sanctioned Russian billionaire and steel mogul Alexey Mordashov successfully transited the Strait of Hormuz last Saturday. The Nord, a 464-foot multi-deck pleasure vessel worth more than $500 million, was one of very few ships to pass through the blockaded shipping lane.
Traffic through the strait, which is at the heart of the conflict between the U.S. and Iran, has been severely restricted by Iran since February. Despite these restrictions, the Nord was able to sail after undergoing maintenance in Dubai.
A source close to Mordashov stated that the vessel was able to transit because neither Iran nor the United States objected to the passage. However, it remains unclear how the vessel, tied to a mogul under American and European sanctions, gained the permission to use the route.