Russia starting to seize Swiss watches from ADs

Santa Claus

The day after Switzerland joined western sanctions against Russia an Audermars Piguet AD had millions worth of stock seized by Russian FSB agents

https://www.bbc.co.uk/news/world-europe-60900694.amp

It would be interesting to know what percentage of the total market for luxury Swiss watches Russia represents as obviously they won’t be sending any to Russian ADs for the foreseeable future due to the ban on export of luxury goods to Russia that the Swiss adopted as part of the sanctions.

Strumms

Some ‘democracy’ …. Showing their true colours… wanted to ban imports by way of sanctions… but breaking into a business, like gangsters and steal said business stock ? Ok.

Citizen2011

Just like the West stealing Russia’s foreign reserves. Where’s the difference or are you overlooking that ?

Fitz II

Foreign reserves frozen not stolen. They are still there but in accessable.time will tell if the watches are returned.

Cienciano

Think a lot of Russian high ups will suddenly be wearing royal oaks

Wibbs

https://www.boards.ie/discussion/comment/118849834#Comment_118849834

As Fitz points out frozen and there's quite a big difference. Of all the headlines that have come out of this war, it was the seizing of the leased airliners and stuff like this with the watches that jumped out for me as examples of differences in thinking between the "West" and Russia. Or at least Russia's autocratic ruling class thinking.

Real basic schoolboy stuff. "You've taken our stuff. We'll take yours". Slight difference. Sanctions can and will be lifted in time, assets unfrozen, but any goodwill or trust with western commerce will be on life support if not dead because of what seem like small things like this. In thier hubris they also missed a major point with these sanctions and asset freezes. Russia is so small in the grand scheme of things it could be sanctioned to that degree. Spectacular own goal by the Czar and his boyars and they keep on kicking the ball.

Trigger Happy

Russia seems to be turning in to a cowboy state just a few weeks in to these sanctions...it will be hard to repair that image in the future and re-establish any trust in their system.

Aviapark shopping mall in Moscow will become the Aliexpress shopping mall.