Davos day three: 2024 will be ‘moment of truth’ for Ukraine; Hunt to ‘bang the drum’ for UK investment – business live | Business

Key events

Duda: Putin decided to set the world in fire

Andrzej Duda, the president of Poland, says that Vladlimir Putin has decided to “set the world on fire”.

Duda warns the Ukrainian breakfast event that:

I’m absolutely sure that we can say, 30 years after the Soviet Union collapsed, that now we are witnessing the rebirth of Russian imperialism in its bloodthirsty version.

Without any doubts, Putin decided to set the world in fire.

Duda reminds us that we are still witnessing the biggest armed conflict in Europe since the end of the Second World War.

And he urges Davos delegates to visit an exhibition here, documenting Russian war crimes in Ukraine.

Introduction: 2024 wil be ‘moment of truth’ for Ukraine

Good morning from Davos, where world leaders, business chiefs and other members of the global elite continue to attend the World Economic Forum’s annual meeting.

We start with Ukraine this morning, as UK foreign secretary David Cameron is attending the annual Ukrainian Breakfast discussion here.

The topic: Stand With Ukraine?

The event, which is also being attended by Poland’s president Andrzej Duda, is hosted by the Victor Pinchuk Foundation, and international investment advisory group EastOne.

Victor Pinchuk, the Ukrainian businessman and philanthropist, opens the event, warning that 2024 will be the “moment of truth” for Ukraine.

Pinchuk tells an audience of Davos delegates here that Ukraine’s international partners have provided a lot of support; Ukrainians are so grateful for this and we will never forget this, he says.

Bu, he warns, there is a difficult truth:

In war it does not matter if you did a lot. It matters only if you did enough.

Pinchuk says that without more support, Ukraine will have too little weapons to win.

Time is running out, he says, and we are at the critical point.

Pinchuk says 2022 was the year in which eveyone underestimated Ukraine. in 2023, everyone underestimated the aggressor. 2024 will be the moment of truth, he insists.

More to follow….

Also coming up today

UK chancellor Jeremy Hunt is also attending WEF today; he’ll be speaking on a panel about ‘technology in a turbulent world’.

The Treasury say Hunt will be championing British excellence in science and technology, and will “bang the drum on investment” into the UK.

Hunt says:

“I’ll be in Davos to tell the world that Britain, a nation of great innovation, is on the up and open for business.

“We boast some of the best and brightest businesses in sectors of the future like digital technology and life sciences. It’s these areas of strength that are going to drive growth across the UK economy in years to come.”

But, Hunt’s trip could be overshadowed by fears back home that Tata Steel will confirm plans to shut down much of its production at the Port Talbot steelworks during a crunch meeting with trade unions,

The Middle East conflict will also feature here in Davos, with Israel’s president Isaac Herzog and Iraq’s president Mohammed Shyaa Al Sudani both due to address delegates.

The agenda

  • 7.30am CET/6.30am BST: Ukrainian Breakfast discussion, including Poland’s president Andrzej Duda, and UK foreign secretary David Cameron.

  • 10am CET / 9am BST: A Conversation with Isaac Herzog, President of Israel

  • 10.30am CET / 9.30am BST: A Conversation With Mohammed Shyaa Al Sudani, Prime Minister of Iraq

  • 11am CET / 10am GMT: Technology in a Turbulent World, with Sam Altman, CEO of OpenAI, Marc Benioff, chair and CEO of Salesforce, Julie Sweet, chair and CEO of Accenture, Jeremy Hunt, Chancellor of the Exchequer, Albert Bourla, CEO of Pfizer

  • 3pm CET / 2pm GMT: Russia: What Next? With European Commission’s Valdis Dombrovskis, Radoslaw Tomasz Sikorski, Poland’s Minister of Foreign Affairs, Luminița-Teodora Odobescu, Romania’s Minister of Foreign Affairs, Gabrielius Landsbergis, Lithunania’s Minister of Foreign Affairs, Chris Miller, Associate Professor, The Fletcher School of Law and Diplomacy, Tufts University

  • 3pm CET: A Conversation with Kyriakos Mitsotakis, Prime Minister of Greece

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