Russian President Dimitry Medvedev expressed on Thursday his hopes that Russia was going to establish good relations and collaborate with the future administration of U.S. President-elect Barack Obama, the Bulgarian Information Agency BGNES reported.

Medvedev spoke in Cannes,just before his departure to Washington DC to participate in the G-20 summit on the global financial crisis, pointing out that "Russia was not the Soviet Union."

When asked about the Russia-US relations, Medvedev said:" There is not tragedy here. We can always agree. There is no crisis as it was during the Soviet times."

The Russian President was in Cannes to participate in the European and Russian Investors forum.