Russian President Dmitry Medvedev on Friday expressed his dissatisfaction with how the negotiations with the United States on the missile defense shield are continuing, saying the sides are losing time.

"So far, I'm not pleased with how the U.S. and all NATO countries reacted to my proposals because we are losing time," the Russian leader said at a news conference on the results of the G8 summit in the French city of Deauville.

After talks with Obama on Thursday, it could take Russia and the United States until 2020 to reach agreement on a European missile shield. On Friday, he said 2020 was the deadline.

"After 2020, if we fail to agree, the real arms race will begin. If we do agree, then the situation will differ dramatically. I would like my partners to keep this in mind," he said.

Moscow has been concerned by the U.S. reluctance to provide guarantees that its European missile defense system will not be directed against Russia.

"We must receive the guarantees that it [the deployment of missile defense in Europe] is not directed against us. So far, no such guarantees have been given," Medvedev said.

He said the sides agreed to continue consultations to try and find mutually acceptable solutions.

"I still call on everyone to think in what kind of world we would like to live. In this case, it will be a world with more nuclear missile launchers. We have already been there. I don't want all of Europe to be like that," Medvedev said.

Source: RIA Novosti