Iran has welcomed the US move to abandon plans for a missile defence shield in Eastern Europe and denied that the Islamic republic posed a missile threat.<br/><br/>Quoting foreign ministry spokesman Hassan Ghashghavi the Mehr news agency reported that the Islamic republic welcomes any action that serves to decrease arms races.<br/><br/>US President Mr Barack Obama last week announced he would shelve plans to site parts of a missile defence shield in Poland and the Czech Republic and instead deploy more mobile equipment targeting Iran's short- and medium-range missiles.<br/><br/> <br/><br/>