US President Barack Obama has
cancelled a meeting with Russian
President Vladimir Putin after
Russia’s decision to grant asylum to
intelligence leaker Edward Snowden,
the White House said.
But Mr Obama will still attend the G20
economic talks in St Petersburg.
A White House aide said Mr Snowden’s
asylum had deepened the pre-existing
tension between the two counties.
The former intelligence contractor has
admitted leaking information about US
surveillance programmes to the media.

Source: BBC News

The world will soon get to know that President Obama is a failed President. Every nation cannot be bullied into doing whatever the US wants. This is a revisit of the Cold War. Let's see who blinks first.

A couple of issues already strained their uneasy friendship,but the snowden case just changed the gear. But, should this snowden case be the other way round,the US would surely do same, granting an asylum to a russian fugitive who has so much to leak about russia's secret intelligence gathering would change the score margin to their favour too. .
The cold war is still much alive.