Right component supplies the sound:
我 wǒ → É with vowel and tone shift. Pure phonetic role — the 'I' meaning of
我 plays no part. Same phonetic in
哦 ó (oh),
鹅 É (goose),
饿 È (hungry),
蛾 É (moth) — a tight É-cluster. The country name
俄罗斯 is a Qing-dynasty transliteration of 'Россия,' shortened to plain
俄 in compounds (
中俄,
苏俄).