Putin has enjoyed high domestic approval ratings and in 2007 was "Time" magazine's Person of the Year. In 2015, he was designated No. 1 in "Time" 100, "Time" magazine's list of the top 100 most influential people in the world. From 2013 to 2016, he was designated No. 1 on the "Forbes" list of The World's Most Powerful People. The Russian economy and standard of living grew rapidly during the early period of Putin's regime, fueled largely by a boom in the oil industry. However, lower oil prices and sanctions for Russia's annexation of Crimea led to recession and stagnation in 2015 that has persisted into the present day. Political freedoms have been sharply curtailed, leading to widespread condemnation from human rights groups.