Sri Lanka, April 28 -- A superyacht owned by Russian billionaire Alexey Mordashov was able to transit the blockaded Strait of Hormuz after undergoing maintenance in Dubai because neither Iran nor the United States objected, a source close to Mordashov said on Tuesday.

It has been unclear how the multi-deck pleasure vessel, worth over $500 million, gained permission to sail on Saturday through the commercially important waterway at the heart of the U.S.-Iran conflict, where traffic has been severely restricted since February.

Sailing under a ⁠Russian flag, the yacht, called Nord, crossed the strait on an approved route in compliance with international maritime law, the source said.

"Iran did not interfere with the movement of the ...