To say the least, it has been an unpleasant few weeks for Russian investors.

It is under development by Russian investors to become a luxury holiday destination.

Russian investors have already started to enter the market.

The company however went bankrupt and the assets were acquired by a Russian investor.

The comfort level of both Russian and foreign investors here does seem to have risen lately.

In 2011 the company has attracted 40 million euros from a mixture of Russian and international investors.

Another big problem is attracting money from small Russian investors.

"If you are a small Russian investor, there is no way of accessing the securities market here."

It offered American stocks to Russian investors, but met with little success.

But those bonds are held mainly by Russian investors.