Russian Exchange-Traded Fund Begins Trading in U.S.

Market Vectors-Russia ETF , the first exchange-traded fund enabling U.S. investors to tap a cross-section of Russian companies, launched on the New York Stock Exchange Monday.

Jan Van Eck, co-president of Van Eck Global, which launched the ETF, joined "Squawk on the Street" to explain why now is the best time ever to invest in the Russian Republic.

Many see Russia as eternally risky, but Van Eck countered that by pointing out that President Vladimir Putin inherited a a chaotic economy and society -- and has brought relative stability to both, especially after the 1998 ruble crisis.

"The Russian market is [now] trading at 11 times earnings," Van Eck told CNBC's Erin Burnett, adding, "a lot of people say that's fairly priced."

Van Eck predicted that "you'll see a lot of Russian IPOs" emerging in coming months, thanks to global liquidity -- but with "the average Russian" being unable to trade stocks domestically, 75% of the country's equities are listed in London.

He said the Market Vectors-Russia fund is "only" weighted with 40% energy, which he said is actually a modest proportion -- considering Russia's status as a "big commodities, big oil story."

NK Lukoil OAO