Copenhagen, Dec 19 (Inditop.com) US President Barack Obama has said Washington and Moscow are “quite close to an agreement” on a new nuclear arms reduction plan.

“We’ve been making excellent progress. We are quite close to an agreement,” Obama told reporters after meeting his Russian counterpart Dmitry Medvedev here on the sidelines of the UN climate change summit.

He said he was confident the deal would be completed “in a timely fashion”.

The Russian president said only some technical details require “further work”.

The US and Russia are trying to find a replacement for the Strategic Arms Reduction Treaty (START-1) by the end of this year. The treaty, signed in 1991 between the Soviet Union and the US, obliged both sides to reduce the number of their nuclear warheads to 6,000 and delivery vehicles to 1,600.

The new treaty’s outline agreed by the two presidents at a July summit in Moscow included slashing nuclear arsenals, operational warheads and delivery vehicles.