According to a report in the Swiss newspaper NZZ am Sonntag, quoted by 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.”
Although not a member of the EU, Switzerland has lately adopted sanctions similar to the EU against Russia following its invasion of Ukraine. According to Swiss foreign affairs department officials, Russian agents from the FSB security service took the watches from the firm’s Moscow premises, claiming “customs irregularities.” The Swiss, however, believe that the move was “a deliberate reprisal.”
Audemars Piguet, one of the three biggest independent Swiss watch brands, announced a day after the war started that “it would cease trading with Russia and close its two stores in Moscow.”
