Embassy of the United Kingdom, Reykjavík first British Embassy was Höfði (best known as the location for the 1986 Reykjavík Summit meeting of Ronald Reagan and Mikhail Gorbachev). In the 1950s the Embassy was moved to its current location on Laufásvegur street. In 1968, the British Government bought Laufásvegur 31 and the old farmhouse which was there was donated to the Reykjavik Museum and moved to the heritage site at Árbæjarsafn. When the Embassy was redeveloped in the 1990s, it was decided that the location was too large for Britain's needs and so it looked for another partner to share it with. At the same time
Foreign policy of the George H. W. Bush administration propose both the World Bank and IMF partner with the Soviet Union to grant the USSR a special association which would grant it access to "considerable financial and economic expertise of those institutions." Another summit was held in July 1991, where the Strategic Arms Reduction Treaty (START I) was signed by Bush and Gorbachev in Moscow. The treaty took nine years in the making and was the first major arms agreement since the signing of the Intermediate Ranged Nuclear Forces Treaty by Reagan and Gorbachev in 1987. The contentions in START would reduce the strategic nuclear weapons of the United