MOSCOW - Washington does not regard Moscow as a security threat and economy rival, U.S. Ambassador to Russia Michael McFaul said Monday.

"We do not consider Russia as a rival to the United States either in security or in the economy," McFaul told an audience in the Moscow School of Political Studies.

The diplomat added that President Barack Obama favored relations that would benefit both countries and better relations with Russia are in the U.S. national interests.

"We believe so and are working towards this goal," he said.

McFaul cited nuclear arms control agreements, the situations over the Korean Peninsula, Iran, Afghanistan among global problems Moscow and Washington need to join forces to tackle.

The ambassador also said he has been optimistic about the future of U.S.-Russian relations.

Russian President Vladimir Putin and Obama are to meet during the upcoming G8 summit in Northern Ireland next week. (Xinhua)