US President Barack Obama's abrupt withdrawal from a summit with his Russian counterpart Vladimir Putin has drawn widespread concern about the worsening of ties between the United States and Russia. The frosty relations between the two powers cater to neither party's interests, nor those of the world at large.

The two leaders were due to meet in Moscow before the G20 summit, which is scheduled to take place in Saint Petersburg on Sept 5 and 6, but the US said there has not been enough progress in relations to warrant a meeting.

The decision was announced by White House spokesman Jay Carney on Wednesday, who cited the lack of progress in resolving the two countries' disagreements over missile defense and arms control, trade and commercial relations, global security issues, and human rights as the reason for postponing the summit to a later date.