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Russian President Congratulates Obama On Nobel

Russia's president is congratulating President Barack Obama on winning the Nobel Peace Prize, saying the award will encourage further U.S.-Russian cooperation.

Dmitry Medvedev says in a letter to Obama that the prize will serve as an incentive for further U.S.-Russian efforts to create a new climate in global politics. Medvedev's letter was released by his office Saturday.

Medvedev said he was ready to develop cooperation with the U.S. based on equality and mutual respect.

Obama has moved to "reset" relations with Russia, which worsened under the previous U.S. administration.

Russia has welcomed Obama's move to dump the Bush-era plan for missile defense sites in Poland and the Czech Republic. Medvedev, in turn, has opened the door to possible new sanctions against Iran.

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