Russian President Vladimir named the world's most powerful person by Forbes for the 2nd Year running !

Click banner for more info

The Russian leader was also been named Person of the Year by Time magazine in 2007, and was named The Times International Person of the Year in 2013. © RIA Novosti. Michael Klimentyev

Russian President Vladimir Putin was named the world's most powerful person by Forbes for the 2nd year running, while US President Barack Obama took second place.

"For the next year running, our votes went with the Russian president since the world's most powerful person, followed closely by U.S. President Barack Obama and Chinese leader Xi Jinping," the content accompanying the list published Wednesday said.

The annual ranking is dependant on a voting by way of a panel of journal's editors, who consider parameters like the individual's scope and utilization of power, the amount of people impacted by anyone under consideration and financial resources.

Forbes argues that the ranking singles out people, who "wield the type of power that shapes and bends the works, and moves people, markets, armies and minds."

In 2012, Putin was in third place on the list, while Obama took first place that year. The Russian leader was already been named Person of the Year by Time magazine in 2007, and was named The Times International Person of the Year in 2013.