St. Panteleimon Monastery is built on the southwest side of the peninsula of Mount Athos. It is often referred to as 'Russian' and does have historical and liturgical ties to the Russian Orthodox Church; nevertheless, like all the other monastic settlements on Mount Athos, the monastery is under the direct ecclesiastical jurisdiction of the Ecumenical Patriarchate of Constantinople and all its monks are citizens of Greece, usually naturalized.
The monastery was founded by several monks from Kievan Rus in the 11th century, which is why it is known as 'Rossikon'. It has been inhabited by mainly Russian monks in certain periods of its history. It was recognized as a separate monastery in 1169.
The monastery prospered in the 16th and 17th centuries being lavishly sponsored by the tsars of Moscovy, but it declined dramatically in the 18th century to the point where there were only two Russian and two Bulgarian monks left by 1730.
The construction of the present monastery on a new site, closer to the seashore, was carried out during the first two decades of the 19th century, with the financial help of the ruler of Moldo-Wallachia, Skarlatos Kallimachos. The monastery occupies the nineteenth rank in the hierarchical order of the twenty Athonite monasteries.
In 1913, the monastery was the site of a raging theological argument (Imiaslavie) among Russian monks, which led to tsarist Russian intervention and the deportation of approximately 800 of the monks on the losing side of the debate.
The Monastery of St Panteleimon was repeatedly gutted by fires, most famously in 1307 (when Catalan mercenaries set it aflame) and in 1968.
References:Herceg Novi was founded (on a former small fishing village, existing since Roman Empire times) as a fortress in 1382 by first Bosnian King Stjepan Tvrtko I and was called Sveti Stefan or Castelnuovo. The Turks conquered Herceg Novi in 1482, and ruled for 200 years, until 1687. However, there was a short pause between 1538 and 1539 when it was held by the Spaniards before they were defeated in the Siege of Castelnuovo. Turkey ruled again until 1687, from then until 1797, the town was ruled by the Venetian Republic.
The Herceg Novi old town is amazing. It is on a fairly steep hill that leads all the way down to the sea. Wandering through the small stairways to the various plazas and fortresses is a many hour adventure.