Two issues that need to be brought out on this proposal:
(1) Abandoning missile defense for Europe will change long-standing U.S. policy toward NATO which held that the European and North American members of the alliance should have the same defense capability; i.e., Poland, Germany, and Britain should have the same defense shield as the United States and Canada. Does Obama wish to send the message that we sell out allies for diplomatic concessions? Perhaps that’s what counts as progressive nowadays.
(2) Russia has already responded by offering to assist Iran increase its gasoline exports; i.e., make itself less vulnerable to financial pressure. “Nothing is worse than the tendency among many activist-journalists, for example at the Associated Press, now to only report half the story.”