"President Vladimir V. Putin said today that Russia would suspend its compliance with a treaty on conventional arms in Europe that was forged at the end of the cold war," the Times is reporting.
"Instead, Mr. Putin said, the Kremlin would use its future compliance with the treaty as a bargaining point in the dispute with United States over American proposals to install missile defenses in Europe."

In very much related news, Inside Defense is reporting that "U.S. and European officials at NATO headquarters in Brussels are quietly drawing up plans to integrate the systems into an alliance-wide antimissile shield capable of protecting the entire continent."
UPDATE: What, exactly, has Vlad & co. so freaked out? The shape and size of the European missile defense plan is still very much in flux. But Missile Defense Agency officials have been passing around this semi-handy chart. According to missile guru Victoria Samson, the idea is roughly to: