Russian President Dmitry Medvedev on Friday signed the ratification of a new strategic arms reduction treaty with the United States.

Medvedev said at a Security Council meeting that the signing of the treaty was a very significant event for the whole country, given the agreements existing between Russia and the U.S.

"The Americans are through their journey. We also completed these procedures," Medvedev said. "We made certain comments largely proportionate to those made by the U.S., symmetrical ones, to address those concerns that our MPs have about the interpretation of the relevant provisions of the treaty."

The treaty, known as New START, limits each country to 1,550 strategic warheads, down from the current ceiling of 2,200, and also re-establishes a system for monitoring that ended in December 2009 with the expiration of a previous arms deal.

The treaty will formally take effect after Russian Foreign Minister Sergei Lavrov and U.S. Secretary of State Hillary Clinton exchange ratification documents, Medvedev said.

The agreement "will set the parameters for cutting the number of strategic nuclear weapons for the next ten years," Medvedev said, "In general, it determines a balance of strategic cooperation, a power balance in the short-term prospect."

Moscow and Washington signed the new START on April 8, 2010, in Prague. The treaty has been widely seen as an effort for Russia and the U.S. to "reset" their relations.

The U.S. Senate ratified the pact on Dec. 22 after President Barack Obama pressed strongly for its passage, telephoning a handful of hesitant Republicans to lock in their votes.