London-based port operator accused over Abramovich $600m superyacht
A London-headquartered port operator could be breaching sanctions laws by allowing Russian oligarch Roman Abramovich to dock his $600m (£460m) superyacht Solaris at a port it operates in Turkey.
Legal experts said Global Ports Holding, which has been listed on the London Stock Exchange since 2007, was taking “a very big risk” by allowing a superyacht owned by a sanctioned individual to use one of its ports.
Solaris, which is 140m long and boasts a helipad and swimming pool, arrived at Bodrum Cruise Port last week, according to shipping intelligence service Marine Traffic. The port is one of 22 terminals run by Global Ports Holding, which is headquartered in Mayfair in London. Abramovich, the owner of Chelsea Football Club, is one of several Russian billionaires hit by UK sanctions last month as part of the government’s efforts to put pressure on Vladimir Putin to end the invasion of Ukraine. Boris Johnson described the sanctioned individuals as having “the blood of the Ukrainian people on their hands”.
Lawyers said Global Ports Holding was probably risking a breach of UK sanctions laws if it accepted port or other fees for hosting a superyacht linked to someone subjected to financial sanctions. UK sanction laws prevent British companies from accepting payments from companies or assets controlled by sanctioned individuals.
Michael Biltoo, a partner at law firm Kennedys, said Global Port Holdings was “certainly at risk … a very big risk” of breaching UK sanctions. “If we were advising them, we’d say, ‘Stop, you need to make a number of checks,’” he told the FT.
Simon Taylor, a partner at Forensic Risk Alliance, said: “The UK is invoking strict liability for sanctions laws and closing any perceived loopholes fast. Companies
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