Not that I'm saying we have a plethora of great film makers and Europe doesn't, but I've seen few European made films that I've really enjoyed verses American made films. This doesn't include the volumes of mindless dribble that people such as Ah-nold, Stallone (except the first two Rocky films and Copland), and other such action stars have put out, as well as the comic fodder that has been coming out for years from the likes of Seth Rogen, John Candy, and Bill Murray. There are some great films from the European sector, but for the most part I haven't enjoyed most that I've seen from the great European film makers verses the great American ones.
I can't discuss Russian films as the only Russian film I've seen that I know of was actually made by a Japanese director (Dersu Uzala by Akira Kurosawa and a wonderful film).