Hong Kong nixes US sanctions on Russian-owned superyacht

HONG KONG (AP) — Hong Kong’s leader John Lee says he will only implement United Nations-imposed sanctions after the U.S. warned that the territory’s status as a financial center could be hurt if it acts as a safe haven for sanctioned individuals. Lee’s statement Tuesday came days after a luxury yacht connected to Russian tycoon Alexey Mordashov, who has been sanctioned by the U.S. and other Western governments, docked in the city. A U.S. State Department spokesperson said in a statement Monday that “the possible use of Hong Kong as a safe haven by individuals evading sanctions from multiple jurisdictions further calls into question the transparency of the business environment.” Hong Kong authorities say they won’t implement other governments’ unilateral sanctions.