Last week, agents of Russia's intelligence agency FSB, raided the Moscow branch of Swiss luxury watchmaker Audemars Piguet, and seized watches worth several million Swiss francs, according to a report in the «NZZ am Sonntag» (in German). 

Sanctions Response

According to NZZ, the action by Russian authorities was in response to alleged customs violations. 

Perhaps it is a coincidence that four days before the raid the Swiss Federal Council tightened sanctions on exports to Russia, including on luxury goods and watches, as finews.com reported.

Symbolism

It is hard to think of something more symbolic of Switzerland than watches. Audemars Piguet is a small and exclusive family-owned watchmaker and has not publicly commented on the war in Ukraine. 

Sanctions would only affect a small portion of Switzerland's global exports of luxury goods and watches, «specific companies could be seriously affected,» the Swiss federal government said in announcing the measures.

In this case, it is Audemars Piguet.