On his way to the meeting, he has met leaders in North Korea and China to agree a common front opposing US plans to introduce a missile defence system, which Russia believes would destabilise efforts at arms control.

BBC: Debt shadow over G8 summit

All this as China was still smarting from the spy-plane incident in April, as well as President Bush's decision to allow the biggest sale of arms to Taiwan in nearly a decade and press ahead with a missile-defence system that the Chinese say could destroy international arms-control efforts.

ECONOMIST: China keeps its anger under control

Russia has insisted on linking the arms control agreement to the controversial issue of a proposed U.S. missile defense system in Poland and the Czech Republic.

CNN: Obama moves to bolster U.S.-Russia ties