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Speaking to Russian President Dmitry Medvedev ahead of a global nuclear security summit in South Korea, Obama asked for “space” and “time” to deal with the missile defense issue.

"Yeah. I understand. I understand your message about space. Space for you,” Medvedev said.

"This is my last election,” Obama said. “After my election, I have more flexibility."

"I will transmit this information to Vladimir," said Medvedev, who will hand the Russian presidency over to Vladimir Putin in May.

The White House confirmed that the private conversation took place in the context of a public conversation regarding NATO’s plans for missile defense in Europe and the need for bilateral cooperation between the United States and Russia. Russia has expressed concern that the United States has not offered satisfactory guarantees that a European missile defense system would not be aimed against Russia, and the subject has increased tension between the two countries.

For more on Obama's comments, click here.