Russian official: Russia, US to finalize arms deal

President Barack Obama and Russian President Dmitry Medvedev are within hours of an agreement on the final details of a historic new treaty that would drastically slash the nations' nuclear arsenals, a senior Russian official said Friday.

The two presidents will try to settle the last outstanding issues in a phone conversation Friday, the official told The Associated Press. Later, both are expected to announce a place and time for the formal signing. (AP)