MOSCOW (AP):

President-elect Barack Obama's fresh approach to foreign affairs is welcome, Russian analysts say, but if he installs a missile defence system in Central Europe and pushes NATO's eastward expansion, he will still face the threat of a new Cold War.

Analysts agree that the Democrat could kick-start relations between Moscow and Washington, currently at their worst since the Cold War.

They also warned there are numerous trap doors for the incoming US leader, and that Obama has little room for error when it comes to dealing with Russia.

Russia's Prime Minister, Vladimir Putin, on a recent trip to Germany, called Obama "sincere and open," but said the new US president would be judged by his deeds rather than his words.

"It is my deep belief that the most bitter disappointments usually result from excessive expectations," Putin said.

Unlike much of the rest of the world, the Russian public has not been caught up in the enthusiasm for Obama.

Lesser of two evils

Many political experts, in fact, see him as the lesser of two evils, compared to Senator John McCain, Obama's Republican rival in the election.

To Moscow's delight, Obama has been noncommittal on enlarging NATO and deploying elements of a missile systems in Poland and the Czech Republic.

Analysts said Russia would greet Obama's decision to slow or scuttle these projects as a strategic victory.

Sergei Rogov, director of the USA and Canada Institute, praised Obama's Cabinet and predicted a new era of compromise.

"There will be attempts to find common ground with Russia ... unlike with the Bush administration," Rogov said.

But, he warned, "if agreement is not reached, we could see a new Cold War."