TODAY: US and Russia will cut nuclear stockpiles by a third; Obama says possibility of ‘extraordinary progress’ at summit; no conclusion on missile defense; despite previous barbed comments, Putin-Obama meeting warm; Russian press quiet on the visit

President Obama and President Medvedev have agreed on a reduction of both countries’ nuclear arsenals from 2,200 to between 1,500 and 1,675 warheads and from 1,600 to between 500 and 1,100 delivery vehicles, to be accomplished within seven years.  To see a video of the press conference, look here.   No conclusion has been met on missile defense which Obama recognizes as point of ‘sensitivity to the Russian Government’, and is under review by US experts.  On Afghanistan, the two countries have agreed to allow transit by air and land.  On the thorny issue of Georgia, Obama has referred to his ‘firm belief that Georgia’s sovereignty and territorial integrity must be respected’.  Agreement was met on opposing nuclear proliferation in Iran and North Korea, and on the revival of a joint commission on accounting for missing servicemen.  The Moscow Times has an overview of the main deals.