Russian assets have dramatically turned from being the "darling" of emerging markets investors to an “obnoxious stepmother” as the escalation in the global credit crisis has hit the country hard in the past few weeks, according to a new report.

Commerzbank analysts wrote in the report entitled, Russia - hammered by the credit crisis, that the "love-hate" relationship with investors was already on the horizon as "idiosyncratic factors" reduced sentiment for Russia over the summer months