In a New Year telegram to U.S. President Donald Trump, Russia’s President Vladimir Putin says a constructive dialogue between the two nations is essential for global stability.

The Kremlin said Saturday that Putin emphasized in his Seasons Greetings to Trump that Russia and the U.S. could develop a “pragmatic cooperation aimed at long-term perspective” on the basis of “equality and mutual respect.”

Putin noted that “the development a constructive Russian-U.S. dialogue is particularly important for strengthening strategic stability in the world and finding the optimal answers to global threats and challenges.”

Ties between Moscow and Washington sank to a post-Cold War low following Russia’s annexation of Crimea in 2014 and the allegations of its meddling in the U.S. presidential election last year.

(AP)