Photo: Mikhail Metzel/TASS via Getty Images

Russian President Vladimir Putin said Saturday that Russia will withdraw from the 1987 Intermediate-Range Nuclear Forces Treaty and begin designing new intermediate-range weapons, following the Trump administration’s announcement Friday that the U.S. will officially exit the pact, the AP reports.

Why it matters: The Trump administration formally announced its intent to withdraw from the INF treaty in six months after accusing Russia of developing and testing a cruise missile that violates certain provisions of the Cold War-era pact. Putin has denied doing so, but said that while Russia will abandon the treaty in six months and begin developing previously banned ballistic missiles, it will not deploy any unless the U.S. does so first.

Go deeper: U.S. exit from INF Treaty frees Russia from key nuclear constraints

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The 53 countries supporting China's crackdown on Hong Kong

Saudi Crown Prince Mohammed bin Salman with Chinese President Xi Jinping. Photo: Rolex/Pool/Getty Images

China's foreign ministry and state media have declared victory after 53 countries joined a statement at the UN Human Rights Council supporting Beijing's new national security law for Hong Kong — compared to 27 who criticized the law.

The big picture: The list of 53 countries was not initially published along with the statement, but has been obtained by Axios. It is made up primarily of autocratic states, including North Korea, Saudi Arabia, Syria and Zimbabwe.

CO2 emissions may have peaked, but that's not enough

Reproduced from DNV GL; Chart: Axios Visuals

More analysts are making the case that COVID-19 could be an inflection point for oil use and carbon emissions, but it's hardly one that puts the world on a sustainable ecological path.

Driving the news: The risk advisory firm DNV GL, citing the pandemic's long-term effects on energy consumption, projects in a new analysis that global CO2 emissions "most likely" peaked in 2019.

U.S. economy added 4.8 million jobs in June

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 4.8 million jobs last month, while the unemployment rate dropped to 11.1% from 13.3% in May, according to government data released Thursday.

The state of play: While the labor market showed more signs of recovery when the government’s survey period ended in early June, the lag means that more recent developments, like the surge in coronavirus cases and resultant closures in some states, aren't captured in this data.