Sprinkle the chicken on both sides with the 1 teaspoon of salt.
Heat the olive oil in a large, deep skillet (or a large, wide pot) over medium heat. Add the chicken to the skillet and cook for 5 minutes, turn the chicken and cook another 5 minutes.
Remove the skillet from the heat and remove the chicken from the skillet. Place it on a pan or plate and keep warm. Cover the chicken loosely with a piece of aluminum foil, and/or place the pan in the microwave. It will stay warm away from drafts.
Place the skillet back over medium heat. The oil should still be hot, but if it’s not give it a minute or so over the heat.
Add the onions and cook for 2 minutes, stirring frequently.
Add the garlic, tomato paste, ½ teaspoon salt, oregano, cumin and black pepper to the skillet. Cook for 1 minute while stirring constantly.
Carefully add the wine, to the skillet. Stir, while gently scrapping all the bits off the bottom of the skillet with a wooden spoon or spatula. Cook for 1-2 minutes until most of the liquid has cooked out.
Add the tomato sauce, water and the bay leaf and stir.
Add the chicken to the sauce, including any juices collected on the plate. Arrange them in the sauce so that they are not overlapping.
When the sauce comes back to a simmer, lower the heat to medium-low and cover the skillet. Cook the chicken fricassee for 15 minutes, keeping the sauce at a simmer.
Give the skillet a quick shake every once in a while, to make sure the chicken isn’t sticking to bottom. Stir the sauce about halfway through the cooking time.
Uncover the skillet, give the chicken and sauce a stir. Add the potatoes and the olives. Give everything a good stir to combine. Arrange the ingredients so they’re not mounded.
Raise the heat to medium and bring the sauce to a simmer. Lower the heat to medium low. Keep at a simmer. Cover the chicken fricassee and cook for another 15-20 minutes. Give the skillet a quick shake every once in a while.
The potatoes should be fork tender and the chicken at least 165°F.
Use tongs to remove the bay leaf and discard. Serve the fricassee on a bed of white rice, if desired.