"Normalization of bilateral relations meets the interests of the two countries. And we will continue the appropriate dialogue with new US President Trump and the new administration," Putin said.
Speaking at a St. Petersburg International Economic Forum (SPIEF) panel discussion on bilateral ties, Putin said, "in order to succeed, serious efforts are needed on both sides."
"Political will is required, readiness to solve issues of mutual practical interest," he stressed.
Russia maintains dialogue with the United States across international platforms, including G20 and the UN, but the foundation of mutual cooperation has been ruined, Putin added.
"As influential world powers, Russia and the US maintain dialogue within various multilateral formats… interact on key global and regional issues," Putin said at a St. Petersburg International Economic Forum (SPIEF) discussion.
He stressed, however, that "we have to state that in the past few years, the basis for mutual cooperation that was formed over the past decades has actually been destroyed."
"Our bilateral ties came to the lowest point since the Cold War. This could not but affect both the economy and our business partnership," Putin said.
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