President Obama and Russian President Dmitry Medvedev touted the results of the first day of their summit in Moscow at a press conference on Monday.

Both presidents complimented the others' "business-like" approach to the summit and both appeared pleased with the agreements that came out of the first day.

Obama said at the beginning at that shortly after taking office they "resolved to reset U.S.-Russian relations."

"Today, after less than six months," he went on, "we have done exactly that."

In particular, Obama touted the summit's agreements on nuclear proliferation Obama said he hopes to reduce the the U.S. and Russia's nuclear arsenal by about a third.

The press conference did not go off flawlessly, however. Obama stumbled slightly over the pronunciation of Medvedev's name at the beginning of the press conference, though he recovered quickly. The U.S. president also sidestepped a question about who is leading Russia, Medvedev or former president and current prime minister Vladmir Putin. Obama said he trusts Medvedev but said that Medvedev and Putin appear to be "working very well together."

Medvedev characterized the first day of talks as "very open and sincere." He also said that Russia and the U.S. has "many points of convergence and many points of mutual interest."

The Russian president also said that the two leaders discussed Afghanistan at length, as well as developments in the Middle East. Obama added later that they also had conversations about relations with North Korea and Iran.

"On the whole, characterizing the first day of work," Medvedev said, "I would like to say that I view them as the first and very important step in the process of improving full scale cooperation between our two countries."