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PRESIDENT OBAMA: So we spent the bulk of our time talking about Iran. As I said in my speech today, the United States is committed to a strong non-proliferation regime. And we are committed to upholding the Nuclear Non-Proliferation Treaty that strikes a bargain with all countries. That bargain says that countries are able to pursue peaceful nuclear technology; that they commit not to pursuing nuclear weapons; and those nations that have nuclear weapons make commitments to start reducing their stockpiles.

As the two major nuclear superpowers, we have made a commitment that we will reduce our nuclear stockpiles and move forward on our part of the bargain. And many other countries are abiding by the international commitments and norms that have been established by the NPT.

Unfortunately, Iran has been violating too many of its international commitments. So what we've discussed is how we can move in a positive direction that resolves a potential crisis, not just in the Middle East but that can cause enormous problems to the non-proliferation regime worldwide.

I believe that Russia and the United States shares the strategic objective that Iran can pursue peaceful energy sources but that it should not pursue nuclear weapons. I believe we also share the view that this should be resolved diplomatically, and I am on record as being committed to negotiating with Iran in a serious fashion to resolve this issue.

Russia, as a major leader, I think believes that such an approach is possible, as well. But I think we also both agree that if Iran does not respond to serious negotiations and resolve this issue in a way that assures the international community that it's meeting its commitments, and is not developing nuclear weapons, then we will have to take additional actions and that sanctions, serious additional sanctions, remain a possibility.

We have an opportunity for a P5-plus-1 meeting with Iran in October. I hope that Iran seizes the opportunity to follow the path that both the United States and Russia would prefer in making a decision to live up to its international commitments, abandon nuclear weapons, and to fully join the international community in a way that I think will ultimately enhance the peace of the region and the prosperity of the Iranian people.

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PRESIDENT MEDVEDEV: We also discussed other issues, we have devoted lots of our time to the Iranian problem my colleague, Mr. President, rightly mentioned. Our task is to create such a system of incentives that would allow Iran to resolve its fissile nuclear program, but at the same time prevent it from obtaining nuclear weapons. That's why we, as responsible members of international community and, indeed, two nuclear superpowers, should send great signals in that direction.

I told His Excellency, Mr. President, that we believe we need to help Iran to take a right decision. As to also have sanctions, Russia's belief is very simple, and I stated it recently. Sanctions rarely lead to productive results. But in some cases sanctions are inevitable.

Finally, it is a matter of choice. And we're prepared to continue and to work together with the U.S. administration both on Iranian peaceful program and on other matters.

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