What: Harrods is restricting Russian customers spending capacity.

Why it is important: According to The Telegraph, the famous Knightsbridge store has contacted Russian customers warning that it will no longer sell them “luxury goods” worth more than £300.

The move comes after Harrods has gone through its customer database, singling out those with a Russian phone number or who have said they live in the country.

The store sent an email to one wealthy Russian saying: “As you may be aware, the UK authorities have introduced further regulations as part of their ongoing sanctions against Russia which specifically target the sale of luxury goods. 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.” The letter includes a link to the new regulations and encouraged the customer to “review them”.

Harrods sanctions high-spending Russian customers