How Trade and Sanctions Made This Russian Fisherman a Billionaire

Peering into the mid-morning darkness from his sixth-floor office on Russia’s Kola Bay, Vitaly Orlov strains to see the new factory he’s just built across the water, his view obscured by a creeping cloud bank that shrouds the Arctic seascape in impenetrable gray. The $30 million structure is the crown jewel of Orlov’s Murmansk-based Norebo Holding JSC. Set amid rows of aging tenements and a wooden church, it was built to service Norebo’s fleet of fish trawlers that together hauled in almost 11 percent of the 4.75 million metric tons (5.24 million U.S. tons) the Russian Federal Fisheries Agency says were caught by Russian fisherman last year. “I’ve only ever been sure of one thing — that my life will always be tied to the north and the fishing industry,” Orlov, 51, polite and deliberate, pocket square tucked into a tailored suit, said in his first foreign media interview. Read the story here 14:42