To cut it short, from a Russian grammar book, unstressed o, like unsterssed a, is either an "uh" sound in pre-pre-tonic or post-tonic. or "a" sort of a sound in pre-tonic or initial position. This is why IPA is helpful because in the word Хорошо. You can only really represent "uh" with an [ə]. (i.e [xərʌ'ʃo])
Unstressed е is said to be pronounced like a short и sound which I believe in IPA can be represented as [I] whereas stressed и would be [i].
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