Iceland in the Cold War the military protection of the United States, even if the economic benefits of the US military presence are gone. With the withdrawal of US forces, the country's military co-operation with other allied NATO countries, such as Norway, has increased. 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,
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