Russian oligarch-linked superyacht navigates Strait of Hormuz amid US sanctions

Tehran. A luxury superyacht linked to a close associate of Russian President Vladimir Putin has crossed the Strait of Hormuz despite ongoing US sanctions. The 142-meter-long yacht named 'Nord', valued at approximately $500 million, reached Muscat, Oman from Dubai over the weekend. 

It is one of the few private vessels to have crossed the waterway in recent months. The yacht is believed to be associated with Russian billionaire Alexey Mordashov, who has been sanctioned by Western countries. Although he is not listed as the official owner, records show the yacht was registered to his wife's company in 2022. 

'Nord' yacht is said to feature amenities such as a swimming pool, a submarine, and a helipad. Mordashov was sanctioned by the UK, US, and the European Union after Russia's invasion of Ukraine in 2022. The Strait of Hormuz is largely blocked due to the war. Tensions continue between Iran and the US over opening it. 

After US President Donald Trump announced sanctions on Iranian ports, Iran has also been restricting traffic in the waterway. Due to the war, maritime transport has significantly decreased compared to before, and oil prices have risen sharply in the global market. On Monday, the price of Brent crude, the international benchmark for crude oil, reached $109 per barrel. 

Although many private vessels have stopped traveling through the route due to the risks, the 'Nord', flying the Russian flag, successfully navigated the waterway. Meanwhile, Iran is trying to strengthen diplomatic relations with Russia. Putin welcomed an Iranian delegation at a meeting in St. Petersburg on Monday. 

Iranian Foreign Minister Abbas Araghchi stated that there is a strategic relationship between the two countries. According to the Russian state news agency TASS, Putin said that the Iranian people are bravely defending their sovereignty amidst American and Israeli pressure.