More than a decade and a half after the fall of the Berlin Wall, Russian- American relations continue a cyclical pattern in which high hopes for cooperation alternate with disappointment. After September 11, the formula for the relationship building on several strong common interests while marginalizing issues on which agreement was not possibleseemed a clear success. Positive results led many in both countries to declare that Russian-American relations had never been more productive or enjoyed stronger domestic support in each country. Yet with Presidents Vladimir Putin and George W. Bush now serving second terms, the outlook is considerably less certain. Cooperation has been weaker than expected, even on issues where Russian and American interests were believed to coincide. Even more important, internal developments in Russia and its treatment of neighbors have severely damaged Putins reputation in the West. This bipartisan Independent Task Force on Russian-American relations examines the track record of the past five years and suggests a strategy for making the most of both challenges and opportunities.