I watched it on Wedneday and I must say, it was one of, it not THE best videogame adapted movies that have been produced. In my opinion, the story board was a little dry, but the action made up for it ten-fold. Especially the scene with the gun dealer and the massive firefight.
As for the setting, they must have filmed it on location, if not, they did a great job at getting Russian props, vehicles, etc. Everything was authentic and being able to speak a little Russian, you could tell that they did their research and used tons of truly authentic Russian items.