This report provides a brief overview of U.S. and Russian objectives when they began discussions on the 1994 Strategic Arms Reduction Treaty (START) and a summary of how they resolved these differences when concluding the negotiations. It then describes the key provisions in the Treaty and presents illustrative forces that each side might deploy in the next 10 years. It offers a brief assessment of how each nation fared in achieving its objectives when negotiating this agreement and a summary of reaction from U.S. and Russian commentators. It concludes with a brief review of the issues raised during the Treaty's ratification debates.