Iceland in the Cold War Iceland in the Cold War Throughout the Cold War, the nation of Iceland was a member of the North Atlantic Treaty Organisation (NATO) and allied with the United States, hosting a US military presence in Keflavík Air Base from 1951 to 2006. In 1986, Iceland hosted a summit in Reykjavík between United States President Ronald Reagan and Soviet Premier Mikhail Gorbachev, during which they took significant steps toward nuclear disarmament. Five years later, in 1991, Iceland became the first country to recognize the renewed independence of Estonia, Latvia, and Lithuania when they broke away from the Soviet Union. Early in
Effects of the Cold War Effects of the Cold War The Cold War had many effects on society, both today and in the past. Primarily, communism was defeated. In Russia, military spending was cut dramatically and quickly. The effects of this were very large, seeing as the military-industrial sector had previously employed one of every five Soviet adults and its dismantling left hundreds of millions throughout the former Soviet Union unemployed. After Russia embarked on economic reforms in the 1990s, it suffered a financial crisis and a recession more severe than the United States and Germany had experienced during the Great Depression. Russian living standards