President Vladimir Putin says Russia hopes to normalise ties with the US and join efforts in the fight against international terrorism.
Speaking in a live state-of-the-nation address on Thursday, Putin said Russia was ready to take part in tackling global challenges if its interests were respected.
"We don't want confrontation with anyone," he said in a speech before officials and MPs at the Kremlin.
"Unlike our foreign colleagues who are seeing Russia as an enemy, we have never been looking for enemies. We need friends," Putin said.
"But we won't allow any infringement on our interests and neglect of them."
Russia's relations with the West have plummeted to a post-Cold War low over the Ukrainian crisis and the war in Syria.
During the US election campaign, President Barack Obama's administration accused Russia of hacking American political websites and email accounts in an effort to interfere with the vote.
The Kremlin has rejected the accusations.
"In the last few years, we have faced attempts of foreign pressure with all tools involved - from the myths about Russian aggression, (allegations) of meddling in elections to the hounding of our athletes," Putin said, referring to doping scandals.
Putin said Russia was looking forward to mending ties with the US after president-elect Donald Trump took office.
"We are ready for co-operation with the new American administration," he said.
"It's important to normalise and develop our bilateral ties on an equal and mutually beneficial basis. We share responsibility for ensuring global security and stability and strengthening the non-proliferation regime."
Putin added Moscow hopes to pool efforts with Washington in confronting international terrorism.
Russia has conducted an air campaign in support of Syrian President Bashar Assad, helping his forces make significant gains, most recently in Aleppo, Syria's largest city before the war.
In the speech that was focused mainly on economic and social issues, Putin said the Russian economy was on the way to recovery, pointing at a growth in some sectors of industry and agriculture.
The Russian economy contracted 3.7 per cent in 2015 and the recession has continued this year under the combined blow of low oil prices and Western sanctions.
