The Trump administration has announced that itâ€™s formally withdrawing from a key agreement with Russia that has kept the development of nuclear missiles in check since the days of the Cold War. The pact, known as the Intermediate-Range Nuclear Forces, has banned ground-launched cruise missiles with a range between 500 kilometers and 5,000 kilometers since it was signed in 1987. The U.S. has accused Russia of violating the treaty with the development of a new missileâ€”a charge that the Kremlin denies. Secretary of State Mike Pompeo said in early December that Washington would give Moscow 60 days to destroy the missileâ€”that deadline expires Saturday. Trump announced the withdrawal in a statement Friday morning, saying: â€śWe cannot be the only country in the world unilaterally bound by this treaty, or any other.â€ť Leaving the pact will allow the Trump administration to counter the fear that China, which is not restricted by the 1987 treaty, has gained a significant military advantage, but also leaves European allies at risk. Last-ditch talks this week to save the treaty failed.