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PRESIDENT OBAMA: As we keep our commitments, so we must ensure that other nations keep theirs. To that end, we had constructive discussions about North Korea and Iran. North Korea has abandoned its own commitments and violated international law. And that's why I'm pleased that Russia joined us in passing a U.N. Security Council resolution that calls for strong steps to block North Korea's nuclear and ballistic missile program.

Iran also poses a serious challenge through its failure to live up to international obligations. This is not just a problem for the United States. It raises the prospect of a nuclear arms race in the Middle East, which would endanger global security, while Iran's ballistic missile program could also pose a threat to the broader region. That's why I'm pleased that we've agreed on a joint statement on cooperation on missile defense, and a joint threat assessment of the ballistic missile challenges of the 21st century, including those posed by Iran and North Korea.

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PRESIDENT OBAMA: The critical issue that President Medvedev identified is the fact that we are seeing a pace of potential proliferation that we have not seen in quite some time, and he mentioned two specific areas. In the Middle East, there is deep concern about Iran's pursuit of nuclear weapons capability not simply because of one country wanting nuclear weapons, but the fact that if Iran obtained nuclear weapons, it is an almost -- it is almost certain that other countries in the region would then decide to pursue their own programs. And we would then see a nuclear arms race in perhaps the most volatile part of the world.

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