I believe Putin and GWB have an understanding on several key issues. Russia's Parliamentary elections will soon be in play, and then the Presidential election. The cost of living is increasing rapidly, and there's a tenor of unrest about housing and education reform. Both issues will play large in the campaign against Putin.
Change makes people nervous. Many Russian reforms were pushed through as 'this alternative is better than what we had', but without a full understanding of the nitty gritty details required to make reform manageable.