CBNNews.com - The White House has announced that President Obama will visit China and Moscow later this year.
Russia's President Dmitry Medvedev extended an offer to Obama to address the existing treaty between the U.S. and Russia which expires in December.
Obama plans to visit Moscow in July.
Obama has also accepted an invitation from China's President Hu Jintao to visit the country and form a U.S.-China Strategic and Economic Dialogue.
Click the player to hear Dale Hurd CBN News Senior Reporter talk about what this announcement will mean for U.S. -Russia relations.
Obama and Hu agreed to "intensify coordination and cooperation on global economic and financial issues," according to The White House.
Officials in both China and Russia have called for a new global currency.
Sources: CBN News, Associated Press