Russian Tycoons Superyacht Granted Access to Navigate Arctic Seas

Russian billionaire Alexei Mordashov’s $500 million superyacht has been granted permission to navigate independently in the isolated Chukchi Sea, reaching as far as Wrangel Island, as reported by Arctida, a Telegram channel tracking Arctic developments.

The permit, issued by Russia’s federal agency GlavSevmorput in July, allows the yacht to operate within that area from August 1 to September 30, 2025.

Mordashov, the owner of the steel conglomerate Severstal, has a net worth estimated by Forbes at $28.6 billion and purchased the 142-meter yacht Nord in 2020.

Constructed by the German shipbuilder Lürssen, Nord is the 12th largest superyacht in the world and has the capacity to accommodate up to 36 guests.

Prior to Russia’s invasion of Ukraine in 2022, the Cayman Islands-registered yacht primarily operated in the Caribbean.

Following sanctions imposed on Mordashov’s holdings, the vessel stopped broadcasting its location for eight months and eventually changed its flag to Russian to evade potential confiscation.

Since then, Nord has primarily remained in Russia’s territorial waters, exploring the Pacific coast and the Far East.

In the last three summers, the yacht has visited various marine reserves and national parks, including Kronotsky, Komandorsky, Beringia, and Shantar Islands.

After arriving in Vladivostok from the Indian Ocean in June, Nord undertook brief trips to nearby ecological reserves.

As of mid-July, the yacht is anchored in Amur Bay close to Vladivostok.