In March 2009, U.S. Secretary of State Hillary Clinton and her Russian counterpart Sergey Lavrov symbolically pressed a "reset" button. The gag fell short as the Russian translation on the button was misspelt by the State Department and actually meant "overload" instead of "reset". After making a few jokes, they decided to press the button anyway.

In early July 2009, Obama visited Moscow where he had meetings with president Medvedev and prime minister Putin. Speaking at the New Economic School Obama told a large gathering, "America wants a strong, peaceful and prosperous Russia. This belief is rooted in our respect for the Russian people, and a shared history between our nations that goes beyond competition." Days after president Obama's visit to Moscow, U.S. vice president Joe Biden noting that the U.S. was "vastly underestimating the hand that it, told a U.S. newspaper that Russia, with its population base shrinking and the economy "withering", would have to make accommodations to the West on a wide range of national-security issues. Biden's words, published shortly after his visit to Ukraine and Georgia, were interpreted as "reaffirming the U.S. commitment to the principle that Russia does not have the right to a sphere of influence in these countries or anywhere in the former Soviet Union"; Friedman pointed up a fundamental error in the analysis that underlay such thinking and predicted, "We suspect the Russians will squeeze back hard before they move off the stage of history".

In March 2010, the United States and Russia reached an agreement to reduce their stockpiles of nuclear weapons. The new nuclear arms reduction treaty (called New START) was signed by President Obama and President Medvedev on April 8, 2010. 

By 2012, it was clear that a genuine reset never happened and relations remained sour. Factors in the West included traditional mistrust and fear, an increasing drift away from democracy by Russia, and a demand in Eastern Europe for closer political, economic and military integration with the West. From Russia factors included a move away from democracy by Putin, expectations of regaining superpower status and the tactic of manipulating trade policies and encouraging divisions within NATO.

The Russian leadership blamed U.S. officials for encouraging anti-Russian revolts during the Rose Revolution  in Georgia in 2003 and the Orange Revolution in Ukraine a year later that were seen by the Putin administration as intrusions into Russia's geographic sphere of interest.

Nevertheless, Putin and Bush were said to have established good personal relations.

In 2002, the United States withdrew from the Anti-Ballistic Missile Treaty in order to move forward with plans for a missile defense system. Putin called the decision a mistake. Russia strongly opposed the 2003 invasion of Iraq, though without exercising its veto in the United Nations Security Council. Russia has regarded the expansion of NATO into the old Eastern Bloc, and U.S. efforts to gain access to Central oil and natural gas as a potentially hostile encroachment on Russia's sphere of influence.