The ongoing conflict between Russia and Ukraine obviously has the world tuned in to what is going on, and for good reason. But how should investors view the current situation? According to our analysts, investors need to pay attention to the commodity aspect of Russia's economy. Exports of things like oil and natural gas account for over 60% of total exports, and Europe is one of the major purchasers of Russia's natural gas. 

Because situations similar to this could place pressure on U.S. allies, applications for LNG exportation could be looked at in a much more expedited fashion. First up would be VERESEN's (TSX:VSN) Jordan Cove Energy Project, followed by Oregon LNG -- a subsidiary of Leucadia National Corporation (NYSE:LUK) -- and third in line is Cheniere Energy (NYSEMKT:LNG) seeking its third approval. In all likelihood, Russia has done these companies a favor. For more thoughts, click on our short video below.

Warren Buffett's bottom-up strategy keeps him optimistic despite Russia

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This segment is from Tuesday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.

Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Leucadia National. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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