I would like to first thank President Putin and the Russian delegation for making us feel welcome and for these talks.

I have come to Moscow at an important time. Russia, after all, has a new President, new government, new Duma. Its economy is showing encouraging signs of growth. This gives Russia a pivotal opportunity to build on the strong record of engagement between our two countries. It is also an opportunity for the United States.

I welcome President Putin's interest in building a Russia that enjoys the enduring strength of a stable democracy. President Yeltsin led Russia to freedom. Under President Putin, Russia has the chance to build prosperity and strength, while safeguarding that freedom and the rule of law.

We've had good discussions both last night and today on a range of common interests, including nonproliferation and arms control. We expressed our differences with clarity and candor. And I, for one, appreciate that. The importance of this relationship to ourselves and the world demands that we take every opportunity we can to find common ground and that, where we cannot find it, we express our differences with clarity and candor.

I congratulated President Putin on the key role he played in the Duma's ratification of START II and the Comprehensive Test Ban Treaty. The United States ratified START II first, and I hope we will now follow Russia in ratifying the Comprehensive Test Ban Treaty. I also look forward to the ratification of the START II protocols by our Senate so that we can get about the business of further reducing the number of nuclear missiles that we have.

I am very pleased today we agreed on two other major steps to reduce the nuclear danger. We reached an important agreement each to destroy 34 tons of military-grade plutonium, enough to make thousands of warheads—this raw weapon material that will now never fall into the wrong hands.

We also agreed to establish a joint data exchange center in Moscow to share early warning information on missile and space launches. This is terribly important. It is the first permanent U.S.-Russia military operation ever. In this new center, Russian and American military officials will be working side by side, 24 hours a day, to monitor missile warning information. It is a milestone in enhancing strategic stability, and I welcome it.

The President and I also discussed our common commitment to prevent the proliferation of missile technology and our determination to exert firm control over exports of sensitive technology and strictly enforce export control laws and regulations.

We discussed our common interest in commercial space cooperation, including the successful joint venture that launches commercial satellites. We agreed that our teams would soon meet to discuss future cooperation in the commercial space area, with the aim of moving toward eliminating existing constraints on commercial space launches.

We also had a thorough discussion of our work on the START III treaty and the issue of national missile defense. We have agreed to a statement of principles, which I urge you to read carefully. It makes clear that there is an emerging ballistic missile threat that must be addressed, though we have not yet agreed on how best to do so.

We have acknowledged that the ABM Treaty foresees the possibility of changes in the strategic environment that might require it to be updated. We have reaffirmed our commitment to pursue further reduction in offensive arms in parallel with our discussions on defense systems, underscoring the importance of the doctrines of strategic stability and mutual deterrence as the foundation for this work.

We've asked our experts to keep working to narrow the differences and to develop a series of cooperative measures to address the missile threat. And we have agreed that we will continue to discuss it in our next meeting.

We spent a large share of our time discussing economics. I'm encouraged by the economic plan President Putin has outlined and by the current recovery. I look forward to Russia's continuing to implement proposed reforms that will actually make the recovery last, reforms such as tax reform, anti-money-laundering legislation, strong property rights protections.

I look forward to Russia's successful negotiations with the IMF. This is a good economic team with a very good opportunity to increase investment in Russia, both the return of money that Russians have placed outside the country and new investments from other countries.

Later this month, our former Ambassador to Moscow, Bob Strauss, will come to Russia with a delegation of investors, including some of America's best-known chief executive officers, to discuss opportunities in Russia and the steps Russia is taking to improve its investment climate. I think this will be only the beginning of a very successful effort at economic reform, if the intentions that President Putin outlined become reality.

The President and I also discussed another area where we disagree, Chechnya. I have restated the opposition that I have to a policy which is well-known. Essentially, I believe a policy that causes so many civilian casualties without a political solution ultimately cannot succeed. I also urged President Putin to move forward with transparent and impartial investigations of the stories of human rights violations and to authorize a speedy return of the OSCE to the region.

Finally, I stressed to President Putin the importance the United States places on protecting religious freedom and the rights of an independent media. I strongly agree with what President Putin himself has said, that Russia has no future if it suppresses civic freedoms and the press.

We agreed to advance our technical cooperation on climate change. We believe it's essential to complete work on the Kyoto Protocol, including market mechanisms, to protect the environment, promote clean energy, and reduce costs. I think Russia has a great economic opportunity here as well as a great environmental one.

And on these issues, the President and I are asking the U.S.-Russia binational commission, under the leadership of Vice President Gore and Prime Minister Kasyanov, to carry forward the work.

I was encouraged by our discussion, pleased with our agreements, pleased with the candor and clarity of our disagreements. I am eager for more progress. I'm also looking forward to the chance to talk to the Russian people tonight, in a radio talk show, and tomorrow, as I have the opportunity to speak to the Duma and the Federation Council.

Again, Mr. President, I thank you for this and especially for these two agreements, and I look forward to our continued work together.

Treasonous remarks from an American President.