You don't want to touch bonds when there is a political interest working directly against you. Especially when that political interest is influential with those even more powerful than them. Look at what happened to Chrysler secured bondholders in 2009. Or look at what happens to foreign bondholders in Chinese default cases.
Now, the price might be so low that you are compensated for this political risk. But unless you have the ability to perform such a credit analysis, and furthermore have the asset size to diversify your individual bond holdings (which may be the case), I would stay away.