Business

Putin's hockey pal and Russia's richest man Vladimir Potanin has been 'snapping up banks for cheap' amid an exodus of Western owners

14 days ago   |   By Business Insider

Russia's President Vladimir Putin played hockey with Vladimir Potanin. Mikhail Svetlov/Getty Images
Putin ally Vladimir Potanin is reportedly snapping up Russian banks at a discount rate.
Western businesses fled the country en masse following Putin's invasion of Ukraine.
Per Forbes, Potanin is said to be Russia's richest man - worth just shy of $30 billion.
Russia's richest man has been snapping up domestic banks at a discount rate, after their Western owners ditched the country, reports say. The Russian economy has been in freefall since the invasion of Ukraine, after Western powers...
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Russia's largest shipping company is selling ships to buyers in Dubai and Singapore to repay its debts to western banks, a report says

14 days ago   |   By Business Insider

Russia's Sovcomflot says it plans to sell part of its fleet to repay its debt to western banks. Anton Vaganov/Reuters
Sovcomflot is selling ships to buyers in Asia and the Middle East to repay loans to western banks.
Per the WSJ, the deals come ahead of a Sunday deadline for EU companies to stop business with Russia.
As Russia's largest shipping company, it operates 122 ships, including oil tankers and gas carriers.
Russia's leading shipping company has sold ships to buyers in Asia and the Middle East to repay its loans to Western banks. The Wall Street Journal and Lloyd's List first...
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