Russia is the sixth largest economy, ranked just above Brazil, and the second largest oil producer only behind Saudi Arabia, making Russia a pure energy play. With oil prices looking to stay sticky around $100 a barrel on increased global demand as well as geopolitical unrest in the Middle East, Russia looks like a good bet for gains in 2012.
I like the Market Vectors Russia ETF (Sym: RSX). The index is heavily weighted towards the energy producers, which are Russia’s bread and butter.
Also, a major Presidential election will be contested in early spring which should bring clarity and stability to Russia's financial markets. The RSX has plenty of upside, especially with its oil exports and high prices.
RSX closed recently at 27.67…
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