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Since the collapse of the USSR, NATO/Russia relationship is based on a long lasting misunderstanding. Yelstin, as well as Poutine, tried to establish close links with NATO and secondly, to co-operate in practical terms. The Russians consider that NATO has never taken seriously its demands for a partnership. The Russia/ NATO relationship must be rebuilt from the start. Given the current challenges, it is necessary and even possible.Julianne Smith is the Head of the Europe program at the Centre for Strategic and International Studies (CSIS).