Russian President Dmitry Medvedev said Thursday that the decision by the Obama administration to scrap plans for a missile defense system in Europe is a "responsible move."

Medvedev made the comments on state TV just hours after President Barack Obama announced he was shelving the project, which has been a major irritant in U.S. relations with Russia.

He said he and Obama had discussed the issue of missile proliferation in their meetings earlier this year in London and Moscow and had agreed to work together to reduce that risk.

"The announcement made today in Washington shows that the conditions for such work are not bad," he said.

"We appreciate this responsible move by the U.S. president toward realizing our agreement," he said. "I am prepared to continue the dialogue."

Russia has strenuously objected to the plan to base the missile system in Poland and the Czech Republic, fearing it would compromise Russia's strategic nuclear capabilities.

"We together will work out effective measures regarding the risks of missile proliferation — measures, which will take into consideration the interests and concerns of all sides and guarantee equal security to all states in Europe," Medvedev said.