Reykjavík Summit Reykjavík Summit The Reykjavík Summit was a summit meeting between U.S. President Ronald Reagan and General Secretary of the Communist Party of the Soviet Union Mikhail Gorbachev, held in Höfði in Reykjavík, on 11–12 October 1986. The talks collapsed at the last minute, but the progress that had been achieved eventually resulted in the 1987 Intermediate-Range Nuclear Forces Treaty between the United States and the Soviet Union. In 1986, Gorbachev had proposed banning all ballistic missiles, but Reagan wanted to continue research on the Strategic Defense Initiative (SDI), which involved the militarization of outer space. Yet Soviet suspicion of SDI
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