EU sanctions force closure of all Mere discount stores in Latvia and Lithuania

The European Union’s 21st sanctions package added Russian businessman Sergei Shnaider, owner of SIA Latprodukti, to its blacklist. Because the sanctions apply to any businesses he controls, the Retail chain Mere was ordered to cease operations in both Latvia and Lithuania.

In Latvia, all nine Mere stores – located in Riga, Daugavpils, Jelgava, Jēkabpils, Liepāja, Rēzekne, Tukums, Valka and Ventspils – were shuttered immediately, leaving shoppers empty‑handed. Lithuania’s twenty Mere outlets were also closed within minutes, according to statements from the LRT radio economist Marius Dubnikovas, who said the move appears aimed at protecting the underlying assets for a possible sale.

Mere accounts for roughly 1 % of each country’s low‑price grocery market, with an annual turnover of about €70 million, far smaller than the €7 billion market in Lithuania. The Finnish‑registered companies Latprodukti and its subsidiary Valiente reported a sharp profit decline after the sanctions froze assets and halted sales. Authorities indicated the closures are a direct response to the sanctions, which target individuals and firms that financially or materially support Russia’s war in Ukraine.