It very well may be for the Russkis
I am no expert on global markets but for us, I suspect it would be incremental. (convince me otherwise)
The point is Bush is still POTUS and the ROW expects us to say something, and that something should have little to do with his popularity or his past record. The idea that the US should go into a shell or placate the Russians because Bush is a lame duck and unpopular guy is not reasonable.
If you have a problem with the position okay, otherwise, at worst, the "blind hog" analogy would be appropriate.
(I see Pelosi has come out for off-shore drilling)