President Obama has been in Russia for two days and has so far given a key note speech to the New Economic School in Moscow, “exchanged pleasantries” with prime minister Vladimir Putin and met with president Dmitry Medvedev to talk about nuclear arms cuts.

The meeting with Medvedev has got people talking. The two presidents signed a deal that will see both countries agreeing to cut its nuclear weapons arsenal. According to AP, “The declaration called for a reduction in the number of nuclear warheads in Russian and US strategic arsenals to between 1,500 and 1,675 within seven years and the number of ballistic missile carriers to between 500-1,100.” This is a reduction on the previous levels of 2,200 warheads and 1600 carriers (FT).

The press conference where this was announced is transcribed on the White House’s website. The new agreement will replace the old START (strategic arms reduction treaty) set to expire in December of this year, after being in place since 1991.

The move, along with Obama’s speech looking to “reset” relations between the US and Russia has been declared by one UK tabloid as a thaw in the Cold War, (I’m pretty sure the cold war ended a few years ago, actually).

Not everyone is happy, though. This op-ed in the Wall Street Journal by Keith Payne, a professor of defense and strategic studies at Missouri State University, argues that the agreement will compromise US security, and that Russia’s aging weapons mean that their arsenal would naturally be reduced to these newly agreed levels by retirement of their stash.

And the deal isn’t done yet – the treaty hasn’t been signed, and the nuances of the agreement have not been fully agreed, with some reports suggesting that things are not quite as amiable as they might appear (Guardian).