$27M Picasso masterpiece smuggled from Spain seized by France

French custom officials in the island of Corsica have seized a 24 million-euro ($27.4 million) masterpiece by Pablo Picasso that was banned from leaving Spain where it is considered a national treasure.

Corsican authorities say in a statement Tuesday they were tipped off about an attempted smuggling of the prized 1906 painting, Head of a Young Woman,to Switzerland.

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The oil painting, which comes from the Cubist master's "pink period" and features a woman with long black hair, was seized from a boat cargo on Friday, when the captain was unable to produce a certificate.

On the boat, authorities say, a document was found in Spanish confirming that the work was of "cultural interest" and was banned from leaving Spain, Picasso's homeland.