Snowden's Impact on U.S.-Russia Relations

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Aug. 12 (Bloomberg) -- Columbia University's Timothy Frye discusses the state of relations between the U.S. and Russia. He speaks with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

Thank you for having me here . assess the state of relations between washington and moscow.

Are they a sign of much bigger issues?

Collects in the last clutch of years, there were areas where the u.s. and russia could work together.

There was real cooperation on afghanistan where the russians helped to make sure u.s. supplies were able to reach the northern part of afghanistan and that was in both countries interest.

Cooperating on getting russia's world trade, and there was also cooperation on arms control, which was in both countries interest.

In the last year, there has been very few areas where the u.s. and the russians have seen eye to eye.

Not a lot of agreement and there are real limits as to what can be done in iraq.

The recent policy of obama was very successful, but there are not any core issues driving operation between the countries.

President obama canceled a planned summit meeting next month.

Did that escalate tensions or, did mr.

Obama have no other option?

In some ways, the canceled summit would have made good television if you would like to see two leaders uncomfortable in each other's presence.

There had been a long buildup of a lack of rye grass on four issues.

For a lot of people, it was a relief it did not happen.

A lot of people believe it is better not to have a vacuous or failed summit.

It is at or they can slip in the dog days august where few people are paying attention.

From a historical perspective, you have nixon, reagan, and they have all had much to your issues to deal with.

Why have president obama and president who not been able to get on the same page?

We really have to take into account historical context.

Russia is not soviet union.

The global reach the soviet union had to the point where in 1990 -- 9072, they could say it cannot be filed without the soviet union participation.

Russia is not in that position.

In some ways, there is a legacy of cold war.

The american president wants to have their moment.

Not the kind of issues that were in play in 1996 -- 1986. russia does not have an extradition treaty in the united states.

Why was the white house surprised?

Collects the snowden case is compensated.

There are reasons why the obama administration -- it is not the worst option.

If you were to come back to the united states, it would be a great distraction from the policies obama would like to pursue in his second term.

He does not want to spend his second term debating whether or not to national security agency was reading metadata or reading people's e-mails.

He would rather be talking about other issues that are far more important.

On the russian side, there was not a lot in it the u.s. could offer to mr.

Boudin -- has improved in -- president putin . and to see was up to the united states.

The united states and russia have been making efforts to improve ties.

They have strange and -- strengthened the relationship.

They granted russia permanent trading.

Do the recent tensions jeopardize the progress made, not to mention the market opportunities for american companies?

Not really.

U.s. business ties and russia have been weathering ups and downs for the last 20 years.

The important things to keep in mind is the u.s. russian economic relations are very small.

U.s. exports to russia, less than one percent of u.s. exports.

The same is true for russia.

Russia's exports to europe are the same as united states.

There is not a lot of economic leverage either side has over the others.

Not a lot either side can offer to the other to drive it.

This text has been automatically generated. It may not be 100% accurate.

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