With a 40% exposure to energy, the Russia Market Vectors Russia ETF (NYSEArca: RSX) has reflected Russia’s dependence on oil and other raw materials. [Russia ETFs: Ready to Power Up?]

The same can be said for African countries like Libya and Nigeria, which are represented in the Market Vectors Africa (NYSEArca: AFK). Nigeria makes up 20% of the fund, South Africa is 30%, Morocco and Egypt together is 30%. AFK only has around 10% direct exposure to energy companies.

Other ETFs that include oil-rich countries include:

  • WisdomTree Middle East Dividend (NASDAQ: GULF)

  • PowerShares MENA Frontier Countries (NASDAQ: PMNA)

For more information on oil, visit our oil category.

Max Chen contributed to this article.