A superyacht linked to a sanctioned Russian billionaire has successfully navigated the Strait of Hormuz despite ongoing restrictions in the strategic waterway, according to marine tracking data reviewed by the BBC.
The vessel, named Nord, is associated with Alexey Mordashov, a close ally of Russian President Vladimir Putin who has faced sanctions from the UK, US, and European Union since Russia's invasion of Ukraine in 2022. The 142-metre luxury yacht traveled from Dubai to Muscat, Oman, over the weekend, making it one of the few private vessels to transit the strait in recent months, according to Marine Traffic platform data.
The yacht departed Dubai on Friday night and arrived at Al Mouj marina in Oman's capital on Sunday morning. The Strait of Hormuz remains a flashpoint in tensions between Iran and the United States, with around one-fifth of global crude oil and liquefied natural gas supplies normally passing through the channel.
Iran has continued restricting shipping after US President Donald Trump announced American forces would impose a blockade on Iranian ports. Maritime traffic through the Gulf route is currently at a fraction of pre-conflict levels, driving global oil prices higher, with Brent crude rising to $109 a barrel on Monday.
Despite the risks, the Russian-flagged Nord successfully crossed the strait while many private vessels have avoided the route since hostilities began. While broader peace talks remain stalled, Iran has intensified diplomatic engagement with Russia. President Putin hosted an Iranian delegation in St Petersburg on Monday, where Iranian Foreign Minister Abbas Araghchi praised their "strategic relationship." Putin told Araghchi that the Iranian people were "courageously fighting" for their sovereignty, according to Russian state-run news agency Tass.
Mordashov is not formally listed as the yacht's owner, but records show Nord was registered in 2022 to a company owned by his wife, according to the BBC review. The yacht, estimated to be worth more than $500 million, features a swimming pool, submarine, and helipad, according to Superyacht Times. Mordashov, chairman of steelmaker Severstal, has an estimated net worth of $37 billion, according to Forbes. It remains unclear whether he was on board during the passage through the Strait of Hormuz.
