Russia will act to neutralize U.S. missile shield threat: Putin

By Vladimir Soldatkin SOCHI, Russia (Reuters) - A ballistic missile defense shield which the United States has activated in Europe is a step to a new arms race, Russian President Vladimir Putin said on Friday, vowing to adjust budget spending to neutralize "emerging threats" to Russia. The United States switched on the $800 million missile shield at a Soviet-era base in Romania on Thursday saying it was a defense against missiles from Iran and so-called rogue states.