Legal experts say Global Ports Holding, which has been listed on the London Stock Exchange since 2007, was taking “a very big risk” by allowing a sanctioned superyacht to use one of its ports. The 140-meter-long Solaris, which features a helipad and swimming pool, arrived in the port of Alikarnassos last week, according to the Marine Traffic information service. The port is one of 22 terminals operated by Global Ports Holding, headquartered in Mayfair, London. Abramovich, the owner of the Chelsea football club, is one of many Russian billionaires hit by UK sanctions last month as part of a government effort to pressure Vladimir Putin to end his incursion into Ukraine. Boris Johnson described the people who have been sanctioned as having “the blood of the Ukrainian people in their hands”. Lawyers said Global Ports Holding was in danger of breaking UK sanctions laws if it accepted port or other charges for hosting a superyacht linked to someone subject to financial sanctions. UK sanction laws prevent British companies from accepting payments from companies or assets controlled by people who are subject to sanctions. Michael Biltoo, an associate at Kennedys Law Firm, said Global Port Holdings was “definitely at risk – a very high risk” of violating British sanctions. “If we had advised them, we would have said, ‘Stop, you have to do a lot of checks,’” he told FT. Simon Taylor, a partner at the Forensic Risk Alliance, said: “The United Kingdom is taking strict responsibility for sanctions laws and is closing any loopholes quickly. “Companies need to be vigilant about potential risks, especially in high-profile cases, and move as quickly as possible to avoid sanctions and damage to their reputation.” Global Ports Holding did not respond to a request for comment. Ukrainian protesters tried to stop mooring Solaris at the port last week. Members of the Optimist Sailing Team Ukraine confronted the boat in a small boat, shouting “No war in Ukraine” and waving the country flag. He was part of a youth sailing team that was in Turkey to compete in an annual competition, having left Ukraine before the invasion. Solaris had undergone emergency repairs in Barcelona, but left in a hurry on March 8 as European Union countries began seizing the assets of those who had been sanctioned. Four days later he stopped at the non-EU port of Tivat in Montenegro before arriving in Bodrum. Turkey has refused to impose sanctions on Russia, despite the fact that the United Kingdom, the United States and the European Union have joined forces to impose restrictions on oligarchs believed to have benefited from close ties with Putin. Turkish Foreign Minister Mevlüt Çavuşoλουlu said this week that the oligarchs were “naturally” welcome and could do business in Turkey under international law. The Eclipse, an even bigger superyacht owned by Abramovich, is also anchored in Turkey. The Eclipse, which at 162.5 meters is believed to be the second largest super yacht in the world, arrived in the port of Marmaris on March 22.
