Famous Auction Houses Christie’s And Sotheby's Sanction Russia Due To The War

The London auction house Christie’s has banned the sale and export of luxury goods to customers located in Russia and Belarus, due to the war in Ukraine.

"Christie's fully complies with the export ban regarding the sale of luxury goods to customers physically located in Russia or Belarus, and the export (direct or indirect) of luxury goods to any address in Russia or Belarus," a representative of the company said.

Christie’s also confirmed that they would refuse to hold the "Russian Week" in London.

"Despite the fact that the Russian segment is a small part of the total sales of Christie’s, we take responsibility for responding to the needs of our customers and the development of geopolitical events," said the representative of the auction house.

Christie’s is not the only famous auction house that reacted to Russia's invasion of Ukraine.

Sotheby's And Ketterer Kunst Sanction Russia

Sotheby’s has banned some Russian buyers from participating in sales, according to The Art Newspaper. Reliable sources close to the auction house confirmed that transactions were no longer being accepted from buyers in the country or from Russian citizens whose main income still derives from the country, although details as to how this is being verified are unclear.

The German auction house Ketterer Kunst has also stopped doing business with all clients in Russia.
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"In the face of the dramatic events, we can‘t just stand inactively on the sideline," says the firm's auctioneer and owner, Robert Ketterer.

"War crimes that call for urgent response are being committed in our European neighborhood. In order to take a stand against the war, we also decided to stop doing business with Russia altogether," he added.

The UK and G7 leaders banned exports of art and antiques to Russia in mid-March, and now auction houses and dealers are reviewing their own levels of response.

In coordination with the EU and G7, the US also imposed restrictions on the export, re-export, and transfer (in-country) of luxury goods to all end-users in the Russian Federation and Belarus and to certain Russian and Belarusian oligarchs and malign actors located worldwide.