By Necva Tastan Sevinc
ISTANBUL (AA) - Lithuania may soon impose sanctions on Mere, a low-cost retail chain suspected of maintaining ties to Russian owners despite a recent transfer of shares to a Spanish firm, said the country’s economy minister.
“The recent changes at Mere, these shifts in ownership, should not fool us,” Edvinas Griksas told parliament on Thursday, LRT news reported.
“Authorities are working on this, and we are cooperating with the Foreign Ministry to identify the new shareholders.”
He said the government is finalizing the necessary legal steps to add Mere to the national sanctions list “in the near future.” His remarks came in response to a parliamentary question from former Economy Minister Lukas Savickas about the government’s plans concerning the company’s operations in Lithuania.
According to business daily Verslo Zinios, Valiente, the company operating 19 Mere stores in Lithuania, underwent a recent ownership change.
Several Russian citizens who previously held shares reportedly transferred their stakes to Vigalight, a Barcelona-based firm running a similar business in Spain.
Official records show that Anna and Andrey Shnayder, Andrey Veikulainen, Valery Lakovlev, and Rustam Kilizhekov ceased to be Valiente’s shareholders on Sept. 19, when Vigalight took full control of the company.
However, records also that Russian national Anna Shnayder remains Valiente’s ultimate beneficial owner, holding a 66% stake through indirect control.
- Investigation over possible sanctions evasion
Vigalight, founded in 2024 in Barcelona, has also experienced management reshuffles. Spain’s official corporate registry bulletin reports that Ilya Eigin became head of the company this January, replacing Igor Yagupov, while Elena Avtayeva succeeded Luliya Astanina as company representative.
Mere, which operates under a budget model similar to the German-based chains Aldi and Lidl, entered the Lithuanian market in 2020. The chain has faced increased scrutiny in several European countries for its alleged connections to Russia’s Torgservis group, a company reportedly tied to individuals under Western sanctions.
The Economy Ministry said Lithuania’s ongoing investigation aims to determine whether the recent ownership changes were intended to circumvent existing EU and national sanctions on Russian-linked businesses.
If sanctioned, Mere could face asset freezes, restrictions on financial transactions, and potential suspension of operations across Lithuania.
Lithuania, population about 2.9 million, formerly a Soviet Republic, is a small Baltic nation bordering Russia, its giant neighbor.