Russian President Vladimir Putin said Friday he hoped for better ties with the United States in a July Fourth message to his U.S. counterpart, Barack Obama.

The Independence Day wishes come at a time when relations between the two nations are at their lowest ebb since the Cold War, fueled by tensions over Russia’s actions in Ukraine.

Putin also said that since the two nations are responsible for global security, they “should cooperate in the interests of not just their own people, but the entire world.”

He urged the building of a bilateral relationship based on “mutual respect” and understanding of each other’s interests.

Moscow has repeatedly complained that the West has not taken its legitimate interests in Ukraine into consideration or treated it as an equal partner.

The United States and European Union have imposed targeted economic sanctions on Russian individuals and companies in response to Russia’s actions in Ukraine.