A backlash from European leaders, low oil prices and increased sanctions pressure did little to damage Russia's Gazprom, which posted huge profit gains Monday.

Gazprom, Russia's largest natural gas producer, reported a 71 percent increase in net profits to $5.9 billion for the period ending March 31. Total sales from the company increased 6 percent.

"The increase in sales is mainly driven by the increase in gas sales to Europe and other countries and Former Soviet Union countries," the company said in its quarterly statement.

Europe relies heavily on Russian natural gas, though leaders from Brussels are looking to future reserves from Azerbaijan as a means of diversification. Analysis from consultant group Wood Mackenzie found Russian companies will need to pursue emerging energy sectors, like frontier developments and liquefied natural gas, and expand into non-Western markets to endure what's expected to be a sustained decline in the crude oil market.

Russia aims to expand its pipeline networks through Europe in an effort to resolve lingering geopolitical issues in Ukraine, through which most of its westbound gas runs. With a European Union growing wary of Russia's grip, meanwhile, the Kremlin has tilted toward Asia, where economic expansion means an increased appetite for energy supplies.

Future reports from Gazprom could reflect new pressures exerted by Western powers. Last week, the U.S. Treasury Department added more Gazprom entities to its list of sanctions against the Russian energy sector.

Sanctions pressure has increased since the Russian annexation of the Crimean Peninsula of Ukraine last year. Gazprom itself is facing European questions about anti-trust activities in Lithuania, a former Soviet republic.

Russia's economy depends heavily on the oil and natural gas industry. The World Bank in December said it expected Russia's real gross domestic product should contract by 0.7 percent. That forecast was based on oil priced at $78 per barrel, about 36 percent above the current price.