Sources tell ABC News that later today President Obama is expected to talk to Russian President Dmitri Medvedev and after that the US and Russia will announce an agreement has been reached on a new nuclear arms treaty, replacing the START treaty that expired on December 5.
The treaty will reduce nuclear missiles and delivery systems by roughly one quarter.
The signing ceremony is expected to be early next month in the same city where almost a year ago the president outlined his vision for de-nuclearized world, in Prague, the Czech Republic.
Negotiators from the two countries have been working intensely on this issue since a year ago when Presidents Obama and Medvedev met, but it has not always been an easy process — deadlines have been missed, negotiations at points have been difficult — but an agreement is imminent.
Quite a week for President Obama.