In response to sanctions, Russia seized a series of million-dollar watches from Switzerland

This information was revealed by the Swiss newspaper NZZ am Sonntag on March 27. The newspaper said the watches were seized by agents of the Russian Federal Security Service (FSB) from a branch of Audemars Piguet in Moscow earlier this month.

Citing independent sources and a memo sent by the Swiss Foreign Ministry to members of the country’s parliament that provided details of the seizure, NZZ am Sonntag said each watch was stolen. seized with a value of up to £700,000 ($922,000).

Each Audemars Piguet watch seized by Russia is valued at up to $922,000). Photo: Chrono24

The memo also states that Russian authorities are believed to have seized the watches on the grounds that they violated customs regulations. However, Swiss Foreign Ministry officials believe the move is “most likely a response to sanctions” against Moscow.

Audemars Piguet and the Swiss Foreign Ministry have not yet responded to the above information. Meanwhile, a Swiss Foreign Ministry spokesman told Bloomberg that the country’s embassy in Moscow “is maintaining an active exchange” with Swiss companies based in the country. Russia.

On February 28, Switzerland gave up its neutrality status for the first time in its history to impose sanctions on Russia, including a ban on the export of luxury goods to Russia.

Audemars Piguet is a brand that has been around for nearly 150 years, and is one of the three largest private watch brands in Switzerland, next to Patek Philippe and Rolex. Russia is Switzerland’s 17th largest watch market, with a total value of about $278 million in 2021, according to statistics from the Federation of the Swiss Watch Industry.

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