“With all the tension recently involving Russia, Ukraine and Crimea, Russia’s stock market has gotten even cheaper.  On March 3, 2014, the MICEX Index, which tracks the 50 largest and most liquid Russian stocks traded on the Moscow Exchange, plummeted nearly 11 percent. Two weeks later, the index still sits roughly 11 percent below its closing level on Feb. 28, 2014.  In line with Rogers’ observation, if you look at the price/earnings multiples (P/E ratios) of Russia ETFs compared with those of other ETFs focused on the emerging markets in general or on the collection of the BRIC countries, Russia all by itself currently looks like a steal.”

http://www.etf.com/sections/blog/21553-the-top-russia-etf-value-play.html?fullart=1&start=2

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