Russian authorities have confiscated watches worth several million dollars from an Audemars Piguet premises in Moscow, according to a report by Swiss news magazine NZZ am Sonntag.
The move is said to have been made in retaliation to the luxury watchmaker stopping exports to Russia, but officials in Moscow say the seizure was due to customs violations.
Audemars Piguet closed both its boutiques in Moscow and suspended exports to Russia on February 24, a spokesperson told WATCHPRO earlier this month.
Exports to Russia have been suspended by all major Swiss watchmakers.
LVMH, Swatch Group, Richemont, Rolex, Patek Philippe and Breitling have all confirmed boycotts.
Russia was the 17th largest market in the world for Swiss watches last year, receiving exports worth CHF 260 million with a retail value of over half a billion francs.
