Harrods hits Russian Buyers with $370 Spending Limit

By John Jeffay / May 18, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Harrods, the landmark department store for the super-rich, in Knightsbridge, London, will no longer sell expensive jewelry, watches or other luxury goods to Russian customers.It has contacted all customers on its database with a Russian address, warning them they can no longer buy items priced at over ?, ?300 ($370) because of UK sanctions."The UK authorities have introduced further regulations as part of their sanctions against Russia which specifically target the sale of luxury goods," says the store in an email."The regulations seek to prohibit the supply of many categories of luxury goods over certain values (generally ?, ?300) to individuals who are either currently or ordinarily in Russia." Harrods, former supplier of goods to Queen Elizabeth, is now owned by the state of Qatar via its sovereign wealth fund.It sells luxury brands including Rolex, Bulgari, Cartier, Chanel, Chopard, Piaget and Van Cleef & Arpels, and has become a magnet for wealthy Russians living in Britain.

Recent News

Energy outperforms gold and tech for first time in years

March 23, 2026 / www.canadianminingreport.com

Gold stocks crash along with metal price

March 23, 2026 / www.canadianminingreport.com

Mining stock ETFs slide, gold sector valuations high

March 16, 2026 / www.canadianminingreport.com

Rise in oil price a potential net gain for Canada

March 16, 2026 / www.canadianminingreport.com

Gold stocks slump partly on fears of cost increases

March 09, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok