American views of post-Soviet Russia have swung from one extreme to another over the last decade: from enthusiasm about an overnight transformation to pessimism about an unchangeable country; from libera democratic universalism to stigmatization of a unique, non-Western culture; from optimism about international cooperation to demonization of Russian opposition to U.S. policies and then back to near-euphoria about an alliance against terrorism. To move beyond such pendular swings and stabilize American-Russian relations, Americans need to abandon teleological assumptions about Russia’s future and Russia should avoid steps that reinforce negative American stereotypes.