In their final amateur season, Valova/Vasiliev took silver at the 1988 Winter Olympics behind Gordeeva/Grinkov but then prevailed over the reigning Olympic champions at the 1988 World Championships. After winning their third World title, Valova/Vasiliev retired from ISU competition. After performing for a year in Igor Bobrin's ice theatre, they signed a U.S. contract – the first Soviets to do so without losing their citizenship. The pair performed together in various shows and events until the end of 1997.