(Bloomberg) -- Societe Generale SA can complete its exit from Russia by selling stakes in some of the country’s largest companies worth an estimated $75 million to its former local unit, Rosbank PJSC, which it sold to billionaire Vladimir Potanin last year.

President Vladimir Putin approved an order Sunday to allowing Rosbank to buy the Russian stakes from the French bank. 

The portfolio includes small stakes in the country’s biggest companies like natural gas giant Gazprom PJSC, refined nickel producer MMC Norilsk Nickel PJSC, oil companies Lukoil PJSC and Rosneft PJSC, and 20 other holdings.

Each stake is small, but the total value of the portfolio amounts to at least $75 million, according to Bloomberg calculations.

A spokesperson for Societe Generale declined to comment. 

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Potanin, Russia’s richest person, bought Societe Generale’s stake in Rosbank shortly after Russia sent its troops into Ukraine and the French lender sought to exit the country. Later the billionaire was sanctioned by the US and the UK.

Other international banks like Raiffeisen Bank International AG still haven’t found a solution for disposing of their Russian subsidiaries.

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In 2022, Potanin’s Interros moved 47.5% of Rosbank’s capital to the billionaire’s charitable foundation, and another 7.5% was transferred to Rosbank employee motivation program.

--With assistance from Alexandre Rajbhandari.

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