At face value, Russia should be the destination of choice for investors: Government debt is low, the budget is balanced, the country is politically stable and Russian stocks are very cheap in relation to stocks in almost any another other country. Moreover, Russia has vast natural resources, a highly educated labor force, a large consumer market and abundant land. It is time for investors to take another look.

To read the full Special Economic Analysis by Peter Warburton at LIGNET.com, click here.