MOSCOW, May 12 (RIA Novosti) - U.S. President George W. Bush phoned his Russian counterpart Dmitry Medvedev on Monday to congratulate him on taking office, and agreed with the new president to prepare for bilateral talks at the G8 summit.

The leaders also agreed to maintain regular contacts, and discussed key bilateral and international issues, the Kremlin press service said.

Medvedev took over the Russian presidency from Vladimir Putin on May 7, leaving Putin to become prime minister.

Bush last met with Medvedev in Sochi, south Russia on April 6, after his meeting with Putin.

The U.S. leader called Medvedev a "straightforward fellow", and said he looked forward to working with him. Their next meeting is likely to be at the G8 summit to be held from July 7 to 9 on the northern Japanese Island of Hokkaido.

The United States will elect a new president on November 4, 2008, and Bush will leave office in January 2009.