RUSSIA

1 stock listed

The largest country on earth is under sanctions, but still has strong and very large companies accessible on European stock exchanges.

Russia: Accessibility Policy

GAZPROM

Industry: Natural Gas production

Defensiveness: Medium: Cyclical Product but defensive competitive position

Accessible listing: Frankfurt

Concentration Risk: Sales all over Europe and increasingly Asia

Growth: Growth in production but sales are cyclical

Quick note: A high quality asset, but Natural Gas is too cyclical and political for the defensive investor

Russia: Text