Putin says Russia will not be drawn into new arms race

Russian President Vladimir Putin chairs a meeting on the defense industry at the Bocharov Ruchei state residence in Sochi, Russia, November 10, 2015. REUTERS/Aleksey Druzhinin/RIA Novosti/Kremlin

SOCHI, Russia (Reuters) - President Vladimir Putin said on Wednesday that Russia is not going to get drawn into a new "arms race". On Tuesday Putin said that Russia was working on developing a missile system able to penetrate the missile shield being planned by the United States (Reporting by Denis Dyomkin; Writing by Lidia Kelly; editing by Vladimir Soldatkin)