A superyacht owned by Russian oligarch Alexei Mordashov crossed the Strait of Hormuz on Saturday despite Iran’s near-total chokehold on traffic through the strategic waterway, CNN reported.
The Nord, a 142-meter yacht valued at about $500 million, sailed from Dubai overnight and crossed the strait en route to Muscat, Oman, according to CNN, citing data from maritime intelligence firm MarineTraffic.
The yacht used a shipping lane declared safe by Iran after mines were placed in parts of the strait during the war. The route runs closer to Iran’s coast and near Larak Island, an area controlled by the Islamic Revolutionary Guard Corps.
Mordashov, chairman of the Russian metals and mining giant Severstal, is among Russia’s richest people, with a fortune estimated at about $30 billion. He and members of his family were placed under U.S. sanctions after Russia’s 2022 invasion of Ukraine.
The Nord is among the world’s largest yachts and includes two helipads, with a crew that can include a chef, fitness trainer and masseur.
The Strait of Hormuz normally carries about one-fifth of global oil supplies and is considered an international waterway. Iran has threatened for years to block it if attacked, and has warned it will target ships crossing without approval.
Traffic through the strait has fallen sharply since the war, sending oil and fuel prices higher. Iran has continued to restrict shipping, saying a U.S. naval blockade of its ports violates the ceasefire.
Earlier Saturday, two other vessels crossed the strait in coordination with Iran: the Chinese-owned oil tanker Peace Gulf and the Greek-owned cargo ship NJ Jupiter. Iran reportedly has charged ships and tankers up to $2 million for permission to pass.
Iran attacked three ships attempting to cross the strait Wednesday and seized two of them, signaling that its blockade remains in force.
The Revolutionary Guards said Saturday that control of the Strait of Hormuz and the deterrence it provides against the United States and its regional allies remain central to Iran’s strategy.