Gorbachev clung to power as the President of the Soviet Union until December 1991, when the Soviet Union dissolved.[171] Fifteen states emerged from the Soviet Union, and of those states, Russia was the largest and most populous. Bush and Yeltsin met in February 1992, declaring a new era of "friendship and partnership".[172] In January 1993, Bush and Yeltsin agreed to START II, which provided for further nuclear arms reductions on top of the original START treaty.[173]

Invasion of Panama
Main article: United States invasion of Panama
Through the late 1980s, the U.S. provided aid to Manuel Noriega, the anti-Communist leader of Panama. Noriega had long standing ties to United States intelligence agencies, including during Bush's tenure as Director of Central Intelligence, and was also deeply involved in drug trafficking.[174] In May 1989, Noriega annulled the results of a democratic presidential election in which Guillermo Endara had been elected. Bush objected to the annulment of the election and worried about the status of the Panama Canal with Noriega still in office.[175] Bush dispatched 2,000 soldiers to the country, where they began conducting regular military exercises in violation of prior treaties.