Last year, it seemed that nothing could stop Russia’s oil and gas giants. Of the Russian public companies that made last year’s Forbes Global 2000 list, the top five were in oil and gas, with Gazprom ranking at number one. This year, the tides have shifted: Gazprom has slid to the fourth most powerful of Russia’s ranking companies, and a bank has done what last year seemed to be impossible, with Moscow-based Sberbank—also known as Sber—outranking all of its Russian oil and gas peers.
Forbes: Kremlin-backed Sberbank outstrips oil giants to become Russia’s top public company
A view shows the new logo of Russian bank Sberbank (reading "Sber") on its headquarters in Moscow on Sept. 25, 2020.
