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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: t4texas who wrote (12042)	5/13/2002 11:16:34 PM
From: Frank Pembleton	Respond to of 36161

U.S., Russia Agree on Nuke Reduction Pact, Bush Says By David Morris and Bill Schmick Washington, May 13 (Bloomberg) -- The U.S. and Russia will sign a treaty to ``substantially'' reduce each nation's stockpile of nuclear weapons, President George W. Bush said. Bush said he and Russian President Vladimir Putin would sign an accord later this month in Moscow that calls for the countries to cut the number of offensive nuclear weapons to ``an agreed-upon range'' of 1,700 to 2,200 for each side by 2012. That's down from about 6,000 now deployed by each nation. ``This treaty will liquidate the legacy of the Cold War,'' Bush said in a brief statement on the White House lawn before leaving to promote his welfare-to-work plan in Chicago. ``When I sign the treaty with President Putin in Russia, we will begin a new era of U.S.-Russian relationships.'' That era would include ``a period of enhanced mutual security, economic security and improved relations,'' Bush said. The treaty, which requires ratification by the U.S. Senate, grows out of a series of meetings between the two men, who continue to disagree over U.S. plans to build a new missile- defense system. Either side can withdraw, after giving three months' notice, for reasons of ``supreme national interest,'' a senior U.S. administration official told reporters. Storing Warheads Some U.S. warheads will be destroyed and others will be put in storage, White House spokesman Ari Fleischer told reporters. Differences between the U.S. and Russia had centered on the U.S. plan to store some warheads. The Russians also complained about a U.S. proposal to classify a rocket carrying multiple warheads as a single missile. The senior official, speaking on condition that he not be identified, said the Defense Department will determine how many warheads will be destroyed and how many will be kept as backups. Bush and Putin agreed to the reduction targets during the Russian president's visit to Bush's Texas ranch last year and had been working on how to put the accord in place. ``We are pleased with our joint labors,'' the Russian news service IFX quoted Putin as saying in Moscow today. The two leaders remain at odds over a U.S. plan to annul the 1972 anti-ballistic missile treaty and build a new missile-defense system. Putin has said the ABM treaty should remain in effect. Bush has said the treaty is outdated because the two countries are no longer enemies. Bush will visit Russia as part of a four-country European tour later this month. quote.bloomberg.com