Russian President Vladimir Putin and his oligarch associates are personae non gratae as far as the controversial World Economic Forum is concerned, due to Russia's invasion of Ukraine.
The forum, which hosts its annual meeting in Davos, Switzerland, announced this week that Russia and Russian officials will no longer be tied to the group because of the war. The news comes as a litany of other organizations and businesses also severed ties with Russia.
The forum has had close connections to Russia in the past, so the move to suspend relations is notable. The group’s executive chairman, Klaus Schwab, reportedly has a long-standing personal relationship with Putin, and the Russian strongman has addressed the forum on several occasions.Putin even declined an invitation to speak in 2015 immediately after the Russian invasion of Crimea, although this year’s invasion of Ukraine was apparently the line in the sand for the forum.
In the past, Russian oligarchs have been major players during the forum's annual meetings in Davos. They often threw lavish parties and mingled with the global elite, including CEOs of some of the world’s largest corporations and lawmakers from around the world. Schwab and Borge Brende, the group’s president, said in a statement that the forum deeply condemns the “attacks and atrocities” committed by Russia against Ukraine.
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