Russian steel magnate Alexei Mordashov’s $500 million superyacht has been cleared to sail independently through the remote Chukchi Sea, extending as far as Wrangel Island, according to Arctida, a Telegram channel that monitors Arctic activity.

Russia’s federal agency GlavSevmorput issued the permit in July, allowing the vessel to operate in the region between Aug. 1 and Sept. 30, 2025.

Mordashov, owner of steel giant Severstal whose net worth Forbes places at $28.6 billion, acquired the 142-meter yacht Nord in 2020.

Built by Germany’s Lürssen shipyard, Nord ranks as the world’s 12th-largest superyacht and can accommodate up to 36 passengers.

Before Russia’s 2022 invasion of Ukraine, the Cayman Islands-registered vessel spent much of its time in the Caribbean.

But after sanctions targeted Mordashov’s assets, the yacht ceased transmitting its location for eight months and was later reflagged as Russian to avoid seizure.

Since then, the Nord has largely remained within Russian territorial waters, cruising the Pacific coast and Russia’s Far East.

Over the past three summers, the yacht has frequented marine reserves as well as the Kronotsky, Komandorsky, Beringia and Shantar Islands national parks.

After arriving in Vladivostok from the Indian Ocean in June, Nord conducted short voyages to nearby nature reserves.

As of mid-July, the vessel remains anchored in the Amur Bay near Vladivostok.