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Sanctions Scrum 15 October 2022

Dear Colleagues and Friends,

Rest assured allied intelligence assets were carefully tracking the Nord as it recently slipped into the Hong Kong harbor. The 465-foot ($521million) superyacht is tied to Putin chum Alexey Mordashov, who is sanctioned by our side.

But the Oligarch’s boat is safe for now, as Hong Kong has declared it’s going to pull on the other team’s jersey for this match[!]. Hong Kong chief executive John Lee recently dismissed US calls for Hong Kong to seize the yacht. Instead, according to Lee, Hong Kong will only enforce UN sanctions, all subject to Russian veto.

In this installment of Sanctions Scrum, we note three significant developments relating to Hong Kong. When taken together, Lee’s decision and these developments argue forcefully against developing or sustaining a significant footprint in post-NSL Hong Kong.

Whether you’re a member of the board of directors, a corporate officer—or just a curious executive trying to understand where to stick your bandaged head—we’re here to help.

Thanks for joining us on the pitch! Now let’s bind up and win this thing!


Jim Lay

Philomont, Virginia