World Economic Forum in Davos freezes relations with Russia over Ukraine's invasion

The World Economic Forum in Davos has frozen its relations with Russia and suspended a strategic partnership with conglomerates run by Russian oligarchs. A Kremlin-backed research center in Moscow and an advisory council led by Russian President Vladimir Putin’s economic adviser have also been sunk.

Speaking to Politico, WEF spokeswoman Amanda Rousseau said, "We are not cooperating with any person who is under sanctions, and we have frozen all relations with Russian organizations". 

The WEF has also vowed to adhere to US, EU, and Swiss sanctions against Russia, which means snapping ties with Russian banks and oil companies.

At the same time, the WEF reserves the opportunity to serve as a bridge between Russia and Ukraine as soon as the active conflict between the countries ends, the newspaper wrote.

Russia Ukraine war enters 14th day

In the nearly two weeks since Russian President Vladimir Putin launched the invasion, his forces have captured a swath of southern and coastal Ukraine but have seen their advances stopped in many areas, including around Kyiv.

Russian troops are shelling and destroying key infrastructure, massively shelling residential areas of Ukrainian cities and villages using artillery, multiple rocket launchers, and ballistic missiles.

Ukrainian President Volodymyr Zelenskyy vowed that his country would fight Russia's invasion in its cities, fields, and riverbanks. “We will not give up and we will not lose,” he told Britain's House of Commons via video, evoking the “never surrender” speech that Winston Churchill gave during World War II.

Thousands of people are thought to have been killed, both civilians and soldiers, though the actual number is unknown. Two million people — half of them children — have fled Ukraine in the less than two weeks since Russia invaded the country, officials said Tuesday, as Europe's worst refugee crisis since World War II grows by the day.

The humanitarian situation in the country's besieged cities grew direr, including in Mariupol, where bodies lay uncollected in the streets and hopes for a mass evacuation of civilians were dashed again.

Ukraine has officially filed a lawsuit against the Russian Federation with the UN International Court of Justice in The Hague.

(With inputs from agency)