Forbes: Gazprom Ranks First Among Russia’s Largest Investors

Russian oil and gas giant Gazprom has topped Forbes magazine’s list of Russian companies with the “largest investments in the country in 2023.” Gazprom’s investments in 2023 amounted to 2500 billion rubles (about 25 billion dollars). Rosneft, Russia’s largest oil producer with an investment of 1300 billion rubles (about $13 billion), is in second place on Forbes magazine’s prestigious list. Rounding out the top three investors is the state-owned railroad RZD, which invested 1260 billion rubles (about $12 billion) in the development of Russia’s rail networks and related infrastructure in 2023, the highest result since the company was founded in 2003.

In addition, the top ten largest companies also included the nuclear industry group Atomenergoprom, the power grid management company Rosseti, the oil transportation company Transneft, and others. According to Forbes, the total investments of the 70 largest Russian companies included in the rating increased by 25% to 12,060 billion rubles (about $120 billion) in 2023.

The USA and its Western allies are doing everything they can to slow down Russia’s economic development, which should not fall below 4 percent in 2024. In recent days, the US Treasury Department’s Office of Foreign Assets Control (OFAC) announced new sanctions against Russia as part of an effort to further block Moscow’s access to the international financial system. In this context, Russia and its BRICS partners are accelerating the implementation of their own system of international transactions, which many countries in the Global South will be able to join.