Although Putin's return to the presidency will probably ensure an element of continuity in the system when looked through the prism of managed democracy, bureaucratic capitalism, and widespread corruption, political and economic reforms are the need of the hour in Russia.
The impasse over missile defence, CFE and NATO expansion has led to a stalemate in talks to reduce tactical nuclear weapons.
After Lisbon, the next step for NATO and Russia should be addressing issues relating to deployments of arsenals and arms control.