Pablo Picasso's "Head of a Young Woman" was seized by French Customs officials last Friday after they received a tip from a day before that the painting was being smuggled out. The ship carrying the Picasso was boarded by the officials in the island of Corsica, a French territory.
"The painting was found on the ship and was already wrapped up, conditioned, ready to be transferred," said Vincent Guivarch, assistant director of French Customs in Corsica, in an interview with CNN affiliate BFMTV.
The said painting is ruled out by the Spanish court as a "cultural interest and a historical heritage asset of exceptional importance" and therefore, "not to be exported," thus rejecting the export request of the painting's current owner, Jaime Botin, in 2012.
Botin is the former vice-chairman and a current stockholder of the banking giant, Santander Banking Group. The 79-year-old banking tycoon was not in the boat when the confiscation of the painting was done. The boat is allegedly owned by the bank, and is flying a British Flag.
The captain of the marine vessel in question could only present two documents regarding the painting, one of which is a May 2015 Spanish Court judgment labeling the "Head of a Young Woman" as a work of art and which could not be taken out of the country.
The "Head of a Young Woman" was painted and finished by the renowned painter Pablo Picasso in 1906. It is said to be worth about 25 million euros or $27 million.
Pablo Picasso is considered to be the most important figure in 20th century art. He gained popularity for his artistic and abstract style in painting, such as cubism. Some of his popular works are: "Three Musician"; "Girl Before a Mirror"; "Blue Nude"; and "Les Demoiselles d'Avignon".
French Customs officials are now establishing communication with the Spanish government for the retrieval of the "national treasure" painting, while the Spanish Police have confirmed that there is an ongoing inquiry between the two nations.
