Russian assets have had a bumpy ride this year as a global retreat from emerging market assets and exchange-traded funds combine with a new wave of U.S. sanctions to put pressure on the Russian ruble, Russian stocks, and Russian ETFs. Yet the ETFs tracking Russian stocks have been largely spared from huge outflows until last week, even when the biggest Russia-focused ETFs saw their performance plunge in early April following the latest U.S. sanctions on Russian oligarchs and companies they control or own. Until last week, the oil price rally—fueled by concerns over future supplies from Iran and Venezuela—had supported the Russia-focused ETFs. But as oil prices plunged at the end of last week on reports that Saudi Arabia and Russia were considering lifting the production of the countries part of the pact by as much as 1 million bpd, outflows from Russia ETFs intensified and reached their highest […]