"},"content":{"rendered":"[vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”administrator,editor,author,armember”][vc_column][vc_column_text]<\/p>\n
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As Switzerland abandoned its neutrality status<\/strong> to join Western countries in imposing sanctions against Russia for its invasion of Ukraine, many luxury companies, including Swiss watchmakers, followed suit and suspended their operations and exports to that country.<\/p>\n <\/p>\n This seizure could therefore be linked to the sanctions put in place by Switzerland and its companies, although the FSB<\/strong> has stated that the seizure was made for “customs violations<\/strong>” , while claiming that the watches had transgressed local Russian customs rules when imported.<\/p>\n <\/p>\n However, this latest seizure comes just weeks after Audemars Piguet<\/strong> said it had ceased operations in Russia and closed its two shops in the Russian capital<\/strong>. To correlate, Russian officials have shown an increased willingness to seize the assets of foreign companies that attempt to curtail their business activities in Russia.<\/p>\n <\/p>\n This seizure could therefore have been carried out with the aim of sanctioning foreign companies based in Russia.<\/p>\n <\/p>\n In terms of figures, however, the Swiss watch industry has not lost its largest market, with Switzerland exporting 260 million Swiss francs (252.6 million euros) <\/strong>worth of watches to Russia last year, making Russia the 17th<\/strong> largest export market for Swiss watches.<\/p>\n <\/p>\n <\/p>\n Read also > CARTIER UNVEILS 18 UNIQUE TIMEPIECES IN COLLABORATION WITH THE SINGAPORE WATCH CLUB<\/a><\/p>\n <\/p>\n Featured Photo : \u00a9 Audemars Piguet[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]<\/p>\n <\/p>\n <\/p>\n As Switzerland abandoned its neutrality status<\/strong> to join Western countries in imposing sanctions against Russia for its invasion of Ukraine, many luxury companies, including Swiss watchmakers, followed suit and suspended their operations and exports to that country.<\/p>\n <\/p>\n This seizure could therefore be linked to the sanctions put in place by Switzerland and its companies, although the FSB<\/strong> has stated that the seizure was made for “customs violations<\/strong>” , while claiming that the watches had transgressed local Russian customs rules when imported.<\/p>\n <\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\n Already have an account ? Please log in<\/b><\/a>.<\/strong><\/p>\n [\/vc_cta][vc_column_text]Featured photo : \u00a9 Audemars Piguet[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n <\/p>\n <\/p>\n As Switzerland abandoned its neutrality status<\/strong> to join Western countries in imposing sanctions against Russia for its invasion of Ukraine, many luxury companies, including Swiss watchmakers, followed suit and suspended their operations and exports to that country.<\/p>\n <\/p>\n This seizure could therefore be linked to the sanctions put in place by Switzerland and its companies, although the FSB<\/strong> has stated that the seizure was made for “customs violations<\/strong>” , while claiming that the watches had transgressed local Russian customs rules when imported.<\/p>\n <\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\n<\/h4>\n
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Agents of the FSB, the Federal Security Service of the Russian Federation, seized several luxury watches worth millions of dollars from a Moscow-based Audemars Piguet<\/a> boutique.<\/h4>\n
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Agents of the FSB, the Federal Security Service of the Russian Federation, seized several luxury watches worth millions of dollars from a Moscow-based Audemars Piguet<\/a> boutique.<\/h4>\n