Well, in comparison to most countries, Russia is pretty cheap (but not really in comparison to India). The cheapest way to get around Russia is by taking the train (buy seats in the "platzkart" section if you want to save money), but it will not be that comfortable. Accommodation is harder, unless you already know someone in the city, most hotels are expensive and not all people are kind to foreigners.
Most of the sights of Russia are in the Western section of the country. If you want to get a feel for Siberia, Novosibirsk is your best bet, but making the trip to Irkutsk to see Lake Baikal is really worth it. Moscow is great, lots of stuff to see there, but by far the jewell of Russia is St. Petersburg. That's about all I can say for Russia. If you are interested in seeing countries close by, Belarus can be hard to get a visa to, but Ukraine is similar and easier to enter. Don't overlook Estonia, it is really a hidden treasure.
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