Joe Biden heaped blame on Vladimir Putin for waging a battle of “alternative” in Ukraine that Russia will “by no means” win, because the US president sought to rally the west for an extended and bloody marketing campaign to defend democracy in Kyiv.

Talking in opposition to the backdrop of Warsaw’s Royal Fort, Biden delivered a keynote speech that instantly challenged claims of US belligerence made by Russia’s president earlier on Tuesday.

In his personal televised handle, Vladimir Putin mentioned Russia would droop its remaining nuclear weapons treaty with the US, a transfer western officers mentioned spelt the tip of the post-cold battle arms management regime.

“The west was not plotting to assault Russia, as Putin mentioned immediately . . . this battle was by no means a necessity, it’s a tragedy,” Biden mentioned. “Daily the battle continues is his alternative.”

In the meantime, China warned western international locations in opposition to “including gas to the fireplace” in Ukraine and reiterated requires peace talks forward of an anticipated go to to Moscow by Beijing’s most senior diplomat Wang Yi.

The FT will maintain an unique webinar this Thursday for subscribers to debate the way forward for Russia’s brutal battle on Ukraine with FT correspondents and particular friends. Register right here without cost.

5 extra tales within the information

1. US shares file worst day in two months Traders have been unnerved on Tuesday by financial information suggesting rates of interest have additional to rise after months of will increase by the Federal Reserve. The blue-chip S&P 500 index ended down 2 per cent, with declines in each sector. The tech-heavy Nasdaq Composite slid 2.5 per cent. Each indices had their steepest each day losses since December 15.

2. HSBC boosts dividend to counter Ping An break-up strain HSBC raised its dividend to the very best degree in 4 years and mentioned it would make a particular payout subsequent yr, because it seeks to fend off break-up calls from its largest shareholder Ping An. The strikes got here because the UK and Hong Kong-listed financial institution reported fourth-quarter pre-tax income nearly doubled to $5.2bn.

3. Vanguard chief defends pulling out of local weather alliance Tim Buckley of Vanguard has defended his resolution to drag the world’s second largest asset supervisor out of the Web Zero Asset Managers initiative, a coalition of 301 asset managers dedicated to decreasing greenhouse gasoline emissions, saying the group’s “voice was being drowned out”.

4. Israeli MPs vote by judicial reforms regardless of protests Israel’s parliament has voted to advance a bitterly contested judicial overhaul that has sparked mass protests throughout the nation and drawn concern from US officers. Tens of hundreds of Israelis rallied outdoors the parliament in opposition to the plans forward of the vote, which lastly came about yesterday.

5. Hong Kong unveils plans to let retail buyers commerce crypto The territory has pushed forward with plans to let retail buyers commerce cryptocurrencies because it vies with Singapore for supremacy as a digital belongings hub. Below plans launched by the Hong Kong Securities and Futures Fee, the trade’s two largest crypto tokens can be opened as much as retail prospects.

Do you suppose Hong Kong ought to let retail buyers commerce cryptocurrencies? Inform us in our ballot under.

The day forward

G20 finance summit Finance ministers of G20 international locations and their central financial institution chiefs will start a summit in Bengaluru immediately till Saturday.

China international minister in Indonesia Qin Gang is about to maintain conferences in Jakarta immediately for his first international go to since taking his put up. (Jakarta Submit)

Federal Reserve minutes Traders will watch the discharge immediately of the Federal Reserve’s minutes from its February assembly for perception into how a lot dissent there was over the newest resolution to sluggish the tempo of rate of interest will increase.

Earnings Outcomes are anticipated from Lloyds, Nvidia, Stellantis, Baidu, Danone, Ebay and Rio Tinto.

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What else we’re studying

How lengthy can Russia preserve waging its battle? To evaluate how lengthy Russia can maintain its battle in opposition to Ukraine, the FT examines 4 areas: the forces on the battlefield, Russia’s inventory of munitions, the Kremlin’s financial battle chest and odd Russians’ emotions in regards to the battle.

Singapore’s hovering rents dent finance hub ambitions Residential rents within the city-state have reached their highest on file, as a wave of latest arrivals have pushed up costs on a restricted provide of housing. The scenario underscores the price of Singapore’s marketing campaign to exchange Hong Kong because the Asian vacation spot for cash and funding.

How possible is a human fowl flu pandemic? Although fowl flu has contaminated comparatively few people, its fatality price is about 50 per cent, in accordance with the European Centre for Illness Prevention and Management. Now, scientists are urging extra vigorous motion to scale back circulation of extremely contagious H5N1 pressure.

China not viable as world’s manufacturing facility, says Kyocera US curbs on China’s entry to superior expertise are killing its viability as a producing base for exports, in accordance with the pinnacle of Japan’s Kyocera, as one of many world’s largest makers of chip elements shifts its manufacturing elsewhere and invests closely in amenities at residence.

World Financial institution prepares for greener mission With the departure of Donald Trump appointee David Malpass, shareholders count on the World Financial institution to put local weather at its centre. Much less rich nations have been pushing for higher lending phrases and different assist to assist them adapt to excessive climate. Some concern the brand new mission may distract from the financial institution’s conventional improvement mandate.

Take a break from the information

Hong Kong won’t be on the forefront of environmental friendliness, however a few of its main cooks are in search of to redress that — to scrumptious impact. Take a look at 5 of the town’s finest sustainable eating places.