And they're losing $140 Billion per year due to the current cheaper energy prices + Western sanctions. http://money.cnn.com/2014/11/24/news/economy/russia-losing-140-billion-oil-sanctions/index.html?hpt=hp_t2
Basically, think of Russia as an oil company. That's the bulk of its economy. So if you're bullish on higher energy prices, then you're bullish on Russia. If you think energy will remain cheap for awhile, then Russia is not a good investment for the time being. I happen to think it's going to stay cheap for a year or two. Beyond that, it's hard to forecast. In the longer term, we have run out of most cheap energy sources, so barring some (more) technological breakthroughs, energy prices will skyrocket like they did when supplies started to squeeze in 2008 or so. Over time, energy (and probably Russia) is a great place to put your money, but it may be some years before your investment there appreciates.