Russia Seizes Audemars Piguet Watches after Switzerland Imposes Sanctions
March 27, 22
(IDEX Online) - Russia has reportedly seized millions of dollars worth of Audemars Piguet watches in response to a Swiss ban on the sale of timepieces and other luxury goods.
Agents from the FSB security service took the from the firm's Moscow premises, claiming there had been customs irregularities, according to the Swiss newspaper NZZ am Sonntag.
But Swiss foreign affairs department officials believe it was a deliberate reprisal.
Switzerland, which traditionally remains neutral, is not a member of the European Union, but is now adopting sanctions similar to the EU against Russia following its invasion of Ukraine.
Family owned Audemars Piguet is one of the three biggest independent Swiss watch brands, selling timepieces for over $700,000.
In the days after the invasion announced it said it would cease trading with Russia and close its two stores in Moscow.