Zurich (AFP) - The World Economic Forum said Wednesday it was freezing all relations with Russian entities, and would not allow anyone on the sanctions list to take part in the annual high-powered meeting in Davos.
"Following its condemnation of Russia's ongoing attack on Ukraine, the forum is complying with the evolving international sanctions and following the rapidly-developing situation," the WEF said in a statement sent to AFP.
"Therefore the forum freezes all its relations with Russian entities, and will not engage with any sanctioned individual or institution in any of our activities, inclusive the annual meeting" in Davos, it added.
The announcement came as the international outcry mounts over Russia's invasion, which in two weeks has sent nearly 2.2 million people fleeing into neighbouring countries.
The West has responded with punishing sanctions, with the United States banning imports of Russian oil, one of its biggest economic weapons against Moscow.
The WEF usually hosts its annual gathering of the global political and business elite in the luxury Swiss resort of Davos in January, but the meeting has been postponed until May 22-26 this year due to concerns over the coronavirus pandemic.
Caviar days are over
Top Russian politicians, businessmen and oligarchs are commonly seen at the plush event.
But now, "the champagne and caviar days in Davos are over.Or at least the caviar," as Politico put it.
Among those who have been slapped with Western sanctions over the invasion is President Vladimir Putin himself, who has participated in several Davos meets.
Politico pointed out that following Russia's annexation of Ukraine's Crimean peninsula in 2014, Putin was still invited to join the following year, but opted not to come.
WEF founder Klaus Schwab had said he hoped the event could "contribute with some bridge building".
When Putin gave a video address to the meeting during the virtual event held in the pandemic year of 2021, at a time when Moscow's relations with the West were deteriorating, Schwab stressed in his introduction that it was "essential" to hear from him.
"Even and especially in times characterised by differences, disputes and protests, constructive and honest dialogue to address our common challenges is better than isolation and polarisation," the WEF founder said.
Putin told the 2021 gathering of a last-minute agreement to prolong the New Start treaty with the United States on reducing nuclear arsenals as "a step in the right direction".
But just days into his Ukraine invasion Putin ordered his country's nuclear forces to be put on high alert -- warned in last year's speech that "differences are leading to a downward spiral".
He cautioned that "the inability and unwillingness to find substantive solutions to problems like this in the 20th century led to the WWII catastrophe."
"Of course, such a heated global conflict is impossible in principle," he said.
"This is what I am pinning my hopes on, because this would be the end of humanity."
