Lithuania warns of Mere attempts to bypass EU sanctions via rebranding

VILNIUS - Lithuania's Economy and Innovation Ministry has warned of possible attempts to circumvent European Union sanctions following the sudden closure of Mere retail stores, which are linked to Russia's Svetofor Group.

Deputy Minister Paulius Petrauskas said on Monday that the group may be attempting to bypass restrictions by rebranding. The ministry suspects that Mere stores could be renamed Ola.

The ministry has asked the Financial Crime Investigation Service to assess whether individuals sanctioned under the European Union's 21st sanctions package are connected to companies or other entities operating in Lithuania and whether there are grounds to impose restrictive measures against them.

"When sanctioned Russian business interests attempt to re-enter our market under different names or through intermediaries, it is not just a business matter - it is an attempt to circumvent European Union sanctions," Minister Edvinas Griksas said.

Last week, the European Union announced sanctions against an additional 168 entities and 48 individuals, including the owners of Svetofor Group, which operates the Mere retail chain.

Russian businessman Sergey Shnayder, the owner of Mere, has been added to the sanctions list.

Reports of Mere store closures in Lithuania emerged last week. At the time, the company said all stores had been closed due to "technical obstacles" but declined to comment on whether the closures were temporary or related to sanctions.

As of Monday, the Mere website was offline and the company's Facebook account had been deleted.

Svetofor Group founders and co-owners operate more than 2,200 stores in Russia and other countries under the Svetofor, Mere and MyPrice brands.