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Mr Putin warmly congratulated Mr Bush on his inauguration as the President of the United States and wished him every success in this highly responsible position.

Both leaders noted their firm intention to develop Russian-US cooperation, expand their highly productive bilateral dialogue and search for reasonable and mutually acceptable solutions to different problems.

Both heads of state discussed the timetable of upcoming Russian-US contacts between Foreign Policy Departments, Security Councils, Presidential Staffs and Governments. The Presidents said they viewed such intensive contacts as an important stage of preparations for the upcoming summit.

The Presidents also discussed the arrest of Pavel Borodin in the United States. Mr Putin expressed hope that this issue would be settled in accordance with the law and human rights. Mr Bush agreed with this position.