Financial Times

The Financial Times reports that HSBC is facing increasing pressure to break up after its largest shareholder, Chinese insurer Ping An, urged the bank to separate its Asian and western businesses.

Financial Times reports that US President Joe Biden has asked Congress for $33 billion (£26.5 billion) in military, economic, and humanitarian aid to Ukraine. US lawmakers are highly likely to approve the request, with more than $20bn reserved for security assistance.

Aluminum producer Rusal has become the first Russian company to publicly call for an inquiry into alleged war crimes in Bucha, according to the Financial Times.

The Financial Times reports that the US, EU and UK are imposing the toughest sanctions yet against Russia’s biggest banks and bankers as the western allies ramp up their economic punishment of Moscow in response to apparent atrocities committed by Russian forces in Ukraine.

The Financial Times leads on Volodymyr Zelenskyy’s speech to the UN Security Council earlier on Tuesday. Ukraine’s president spoke to the group for the first time and he called for Russian leaders to be “brought to justice” for alleged war crimes.

According to the Financial Times, Western countries are planning to step up sanctions against Russia following reports of atrocities in Bucha. French President Emmanuel Macron is calling on a ban on Russian oil, while US President Joe Biden has proposed a war crimes trial, describing Vladimir Putin as “brutal”. 

 The European Union is planning to hit Moscow with further sanctions, according to the Financial Times. Charles Michel, the president of the European Council, said more sanctions were “on their way” after reports of atrocities emerged in Bucha, which is 25km from Kyiv.