Concern over the crisis in Ukraine weighed on the market Thursday, sending shares lower. However, the conflict has provided a buying opportunity, particularly in Russian names, one portfolio manager told CNBC Thursday.
"It's a terrific opportunity to invest in Russia," Leader Capital CIO John Lekas said in an interview with "Power Lunch."
The MICEX index of Russian stocks trades at less than a P/E of 5 on a go-forward basis, he added.
"It's a simple play on natural gas and oil," Lekas said. "Ukraine is non-strategic and should get resolved here sooner than later, I would suspect this week or next."