Richest Russian Strikes Deal as Sanctions Snare Other Oligarchs

While many Russian tycoons were scrambling to shift their assets and move their superyachts in the wake of Western sanctions, the country’s richest man, Vladimir Potanin, was doing all that and more.

Potanin’s Interros Capital, which redomiciled to Russia from Cyprus in December, agreed on Monday to buy Societe Generale SA’s entire stake in Rosbank PJSC. It’s an asset Potanin knows well: He and fellow billionaire Mikhail Prokhorov previously owned the bank, hired some of its executives and had planned to take it public in the mid-2000s until SocGen took a 10% position. Within a few years, the ...