A superyacht linked to a Russian oligarch has produced the latest ripple of tensions between the United States and China after it moored in Hong Kong’s harbor. Hong Kong said Tuesday it would not seize the superyacht, defying Washington and raising fears that the global financial hub could become a haven for individuals sanctioned over the war in Ukraine. “Secondary sanction is more a practical matter rather than a legal or moral matter as Hong Kong banks handling Russian transactions could be sanctioned,” Sun added. The Hong Kong Marine Department did not respond to a request for comment on the number of Russian yachts in its harbors. “We will have to see how much money eventually flocks to Hong Kong and how they are being handled in order to assess the impact on U.S.-China relations,” Sun said.

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