A massive yacht associated with a sanctioned Russian billionaire and a close ally of Putin successfully navigated through the Strait of Hormuz despite the ongoing blockades.
The 465-foot Nord luxury vessel, previously owned by Alexey Mordashov’s wife, made its way from Dubai to Muscat, Oman, as per MarineTraffic data. Iran is engaged in high-level discussions with ally Russia amidst escalating tensions with the US regarding the reopening of the crucial shipping route responsible for a significant portion of global oil and gas transportation.
In the midst of these developments, reports suggest that Donald Trump is unlikely to entertain a peace proposal from Iran, which suggests lifting blockades on the Strait before discussing Tehran’s nuclear program.
Darren Jones, Chief Secretary to the Prime Minister, has cautioned that the UK could face elevated costs for food and fuel for a minimum of eight months due to the conflict.
The Nord, a 465-foot superyacht connected to Alexey Mordashov, crossed the Strait of Hormuz on Saturday despite the ongoing blockade of the strategic waterway.
This luxury vessel, valued at over $500 million, purportedly departed a Dubai port on Friday night and arrived in Muscat, Oman, on Sunday, based on MarineTraffic data.
Mordashov, the chairman of steel giant Severstal and under Western sanctions since Russia’s invasion of Ukraine in 2022, denies ownership of the superyacht. Reports indicate that in 2022, the yacht was registered to a company owned by his spouse, according to the BBC.
The closure of the Strait of Hormuz has led to a surge in global oil prices. The global benchmark Brent crude reached $109 (£80) per barrel recently due to a lack of progress in talks between Iran and the US.
Iran has proposed ending its control over the Strait of Hormuz if the US lifts its blockade on the country and resolves the conflict, deferring discussions on Tehran’s nuclear program, as per regional officials.
Nevertheless, there are doubts regarding Donald Trump’s acceptance of this proposal, with a US official reportedly stating that he is not enthusiastic about it.
Russia’s UN ambassador has defended Iran’s right to regulate the Strait of Hormuz while accusing Western nations of double standards.
Sir Keir Starmer has advised against panic over the economic repercussions of the Iran conflict but acknowledged that some adjustments may be necessary.
The Prime Minister, set to lead a meeting of the ministerial Iran crisis committee soon, expressed confidence in the current supply chains.
In addressing the public, Sir Keir emphasized the need to remain calm and assured that efforts are being made to reopen the Strait of Hormuz to mitigate the impact of the situation.