Russian word for "Openness" policy of Mikhail Gorbachev in the 1980s, thawing of Cold War tensions

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Laissez-faire
Detente
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Glasnost

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The correct term you're looking for is Glasnost. It refers to Mikhail Gorbachev's policy of openness in the 1980s, which aimed to promote transparency and increased communication in the Soviet Union.