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HONG KONG -- The U.S. warned Hong Kong on Monday that its status as a financial center could be affected if it acts as a safe haven for sanctioned individuals, days after a luxury yacht connected to a sanctioned Russian tycoon docked in the city.
John Lee says financial hub will only enforce UN sanctions after yacht linked to Russian tycoon anchors in city.
The US accuses the city of granting 'safe haven' to the yacht owned by a Russian oligarch under Western sanctions.
The 141.6 meter-long superyacht Nord docked in Hong Kong last week. It is allegedly owned by Russian steel tycoon Alexey Mordashov, who is a target of US sanctions.
Hong Kong's leader John Lee says he will only implement United Nations-imposed sanctions after the U.S. warned that the territory's status as a financial center could be hurt if it acts as a safe haven for sanctioned individuals