Russia's gas giant Gazprom on Wednesday, April 29, reported its net profits in 2014 plunged sevenfold over the previous year, weighed down by economic sanctions and the devaluation of the ruble, according to AFP.

The company - which was the most profitable in the world just a few years ago - reported 159 billion rubles in net profits last year ($3 billion, 2.8 billion euros) compared to 1.14 trillion rubles ($21.8 billion, 20 billion euros at the current exchange rate) in 2013, Gazprom's annual report says.