FID: “Mere” Cannot Bypass Sanctions by Rebranding

The Financial Intelligence Unit (FID) has provided clarification regarding the situation of the European Union (EU)-sanctioned store network “Mere”. The service emphasizes that the network cannot continue operating by formally changing its brand, as all its assets are subject to a freezing obligation. Sanctions regulations prohibit any change of ownership in such cases without permission from the FID.

Zane Bērica, a public relations specialist at the FID Communications Department, stated that any attempts to circumvent sanctions, such as changing the store’s name or legal form, are not permissible. Asset freezing means that these assets cannot be used, sold, or transferred to other persons without special authorization. This requirement applies to all company resources – both financial funds and property.

The sanctions regime is strict, and violating it can lead to serious consequences. The FID calls on all market participants to comply with the rules and refrain from actions that could be interpreted as sanction evasion. Currently, no information has been provided on whether “Mere” has attempted to rebrand, but the FID’s explanation is preventive and educational.