Below is a list of the most popular Russian stocks. Yes, this is a sensitive subject. A few weeks ago, I wrote about Canadian stocks. Some of them are dually listed and have a lot of potential for future growth. Today, I will write about Russian stocks and ETFs dually listed on US exchanges.
This article is intended to be informative and non-political. Hence, it’s about Russian stocks. The Russian economy has performed very poorly in the last decades, and it isn’t easy to see a short-term recovery.
Some company executives are oligarchs, and putting more money in their pockets isn’t the best idea. I don’t recommend any Russian-based stocks, but I want to inform readers of their existence.
Heavy sanctions are on the Russian economy and companies. There are a lot of questions about its economy. It’s currently hard to predict if or when they will resume trading.
Many US companies stopped their sales in Russia. Some had a significant percentage of their sales there. Others defy sanctions and continue to conduct their operations. We will take a look at both.
Best Russian Stocks 2026
| Symbol | Name |
|---|---|
| OGZPY | Gazprom |
| LKOH | Lukoil |
| NILSY | Nornickel |
| SBER | Sberbank |
| GMKN | Norilsk Nickel |
| SIBN | Gazprom Neft |
| ROSN | Rosneft |
| CHMF | Severstal |
Gazprom (OTC: OGZPY)
Our first stock in the Russian Stocks list is Gazprom. Gazprom is Russia’s most valuable company. It is a majority state-owned multinational energy company. They focus on gas and oil exploration, production, and transportation across many countries.
Russian oligarch Alexey Miller is the current CEO. Both Gazprom and Mr. Miller have been heavily sanctioned over the last weeks. The company will most likely keep its operations in Russia and its allies. However, its footprint in the world may take a severe hit shortly.
Lukoil (OTC: LUKOY)
Surprise! Russia’s second most valuable company conducts its business in the same industry. An Azerbaijani oligarch, Vagit Alekperov, owns it. The story here is similar to the previous one. Both companies are, but may no longer be, one of the largest in their industry. Their faith is yet to be determined.
With all the sanctions on Russian energy companies, the price of gas, oil, and other basic energy needs has increased over the last month. Europe has to find alternative sources to serve its large population before prices rise out of control. Saudi Arabia and other countries may step in to help. The shady energy industry will be an interesting one to follow.
Nornickel (OTC: NILSY)
Another oligarch with a big business. Russian oligarch Vladimir Potanin runs this leading nickel and palladium mining and smelting company. Western sanctions on this and similar industries will also affect the world. Russia would sell them to its Eastern allies if it didn’t follow suit with the sanctions.
Several other industries in Russia are affected by sanctions. It’s hard to say for how long and what the long-term effects will be on the rest of the world. The war also impacts many telecom and social media companies (Yandex) and financial companies (QIWI and Ozon). Regardless of their ties with Putin, their business is affected.
Not all US companies conduct their business solely in North America. Many get a significant percentage of their revenues from Russia. In the next section, we will look at a few companies and what happened with them in the last month.
Russian Stocks ETF List
Van Eck Russia (BATS: RSX)
This Van Eck ETF was created in 2007. Over 95% of its 30 holdings are in Russia. The remainder is in Cyprus. Since its inception, investors have been on a roller-coaster stock ride.
Almost two-thirds of the ETF is invested in the energy and materials sectors. The fund has lost over 75% of its value since the beginning of the war. How this war affects Russian stocks remains to be seen.
Similarly, iShares’ ETF has seen the same results. The halted fund transferred the majority of its holdings into Cash and derivatives. Less than 1-2% is allocated to any 25 Russian holdings. This leaves a very pessimistic approach to the future of this fund.
Vanguard Emerging Markets (NYSEARCA: VWO)
This fund is not halted since it‘s not traded exclusively in Russian securities. As of the end of February, Vanguard’s fund holds less than 1% of its holdings in Russian securities.
It was previously around 3%. The rest is invested in other emerging markets such as China, Taiwan, India, Brazil, etc.
Most stocks have been performing poorly since the beginning of the war. After this madness ends, it’s hard to know if Russia will still be a part of major emerging markets ETFs. Some funds may decide to eliminate Russian securities, while others might take a risk and increase their holdings.
What can be a reasonable theory for the future of these ETFs? Fund managers might want to avoid the Russian economy as long as Putin remains in power. If a transfer of power ever occurs, we may see a return. The following weeks, months, and maybe years will dictate the way things go with Russian stocks.
Companies with Business in Russia
We can agree that food and drink companies are easily replaceable. They aren’t essential products.
Hence, many multinational giants such as McDonald’s (NYSE: MCD), Starbucks (NASDAQ: SBUX), and Coca-Cola (NYSE: KO) halted all their business in Russia.
Putin recently announced that if they don’t come back by May 1st, their business model and logos will be copied by local companies. It can be difficult to pick the right thing to do as a public company: pleasing shareholders or local and international governments.
How much will this halt cost? Let’s take McDonald’s as an example. They stated that this halt would cost them $50M per month. They have over 800 stores in Russia. And if new local companies begin to copy these business models, will we see them go public and become Russian stocks?
Tech
Tech giants like Microsoft (NASDAQ: MSFT) and Apple (AAPL) no longer sell new products in Russia. They aren’t suffering too much from the sanctions.
On the other hand, Meta (NASDAQ: FB) was completely banned in Russia by Putin—no more Facebook, Instagram, or WhatsApp.
The Russian government wants to eliminate any information from other countries from entering the minds of its people.
Consequently, Facebook is losing over $3M per day.
Big Pharma
Pharmaceutical companies are finding themselves in a grey area. They are considered essential, but they are receiving a lot of criticism for not respecting the sanctions.
Big pharma is already a very controversial industry, with many political companies no longer deciding to establish new partnerships with Russian companies.
A few left the country altogether. However, many stayed and kept defying the sanctions. These include Pfizer, Johnson & Johnson, and Abbott. They stopped most non-essential businesses, such as advertising and new opportunities, but they still sell their products. Cutting off an entire country from a basic need can sound cruel.
Some companies have a significant percentage of their sales in Russia. They are much more impacted than the ones mentioned above. French automobile manufacturer Renault (OTCMKTS: RNLSY) has a 29% market share in Russia. It’s their second-largest market outside of France.
Next, Danish beer giant Carlsberg (OTCMKTS: CABGY) will also suffer from a stop in sales. Over 10% of its market is in Russia and Ukraine. The stock has fallen by over 20% since the beginning of the war.
VWO ETF Performance (2026 YTD)
| Year | Performance | 2026 (YTD) | +4.9% |
|---|---|
| 2025 | +12.6% |
| 2024 | +9.8% |
| 2023 | +9.3% |
| 2022 | -20.1% |
Final Thoughts: Russian Stocks
Any securities that have ties with Russia will experience a dip in their stock price. Percentages will differ depending on many factors. Companies originating from Russia will suffer the most, and their stocks will be a big wild card over the foreseeable future.
The outcome of the war is still uncertain. Will Putin remain in power? Will sanctions continue when everything is over? And will companies return to the Russian market? There are still a lot of questions that remain unanswered right now. I won’t be buying the dip when some companies resume trading if they do.
Please do not trade any of the securities on this Russian stocks list unless you know how to trade.
