I own the Russian ETF, I became recently a director of a Russian fertilizer company. Their expenses are in rubles and they sell in U.S. dollars. So, they are coining money at the moment. As these are many other people, I guess there are opportunities.
I own shares of the Moscow Stock Exchange, believe it or not, and even more remarkable, the stock is at all time highs, it is astonishing.
Related ETF: Market Vector Russia ETF Trust (RSX)