I expect you are talking about the proposal mentioned here.
- Russia denies meddling in Western elections, while at least part of the Western meddling in Russia is done by official and semi-official agencies. That's the Western policy of strengthening civic society. So Russia might want to "have their cake and eat it, too" by stopping the overt Western meddling.
- Russia claims to feel threatened by significant meddling in their politics (instigating a Color Revolution, or for that matter the Nawalny case).
- While some of these claims may be theatricals to score political points, significant American Russia-watchers believe that they do feel threatened by significant meddling (RAND study).
- Pacts don't guarantee anything, especially with a President who tears up agreements if he wants to, but it would score political points if Russia could point to yet another pact broken by the West.