Swiss watchmakers grapple with fallout of Russian crisis

Published by
Reuters UK

By Silke Koltrowitz GENEVA (Reuters) – Swiss watchmakers are gathering in Geneva this week for their first big industry event in three years, tackling the impact of sanctions on rich Russians arising from the war in Ukraine. Russia was only the 17th largest market for Swiss watch exports last year, but how to manage business and client relations during such a sensitive time was high on the priority list, Reuters’ conversations with executives at Watches & Wonders showed. Sanctions against Russia and a ban on exports of luxury goods mean brands can no longer ship timepieces to Russia and all th…

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