The U.S. formally recognized the Soviet Union in 1933, during the presidency of Franklin D. Roosevelt. This was part of a strategic decision to establish diplomatic relations in light of the Great Depression and the need for economic cooperation. The recognition aimed to counteract the growing influences of fascism in Europe and to allow for potential trade. The establishment of relations facilitated a complex relationship between the two powers, which would fluctuate rapidly through the decades, moving from cooperation during World War II to deep-seated rivalry in the Cold War era.