Russia to boycott World Economic Forum if its tycoons barred

MOSCOW – Russia’s Prime Minister Dmitry Medvedev says Moscow will boycott the annual World Economic Forum in the Swiss ski resort of Davos if it fails to lift restrictions on the attendance of Russian businessmen.

Organizers of the WEF, which takes place every January, have reportedly warned Russian billionaire tycoons Oleg Deripaska and Viktor Vekselberg, and head of the state-controlled VTB bank Andrei Kostin that they’re not welcome. All three have been targeted by U.S. sanctions.

Medvedev, speaking Tuesday on a visit to attend a Libya conference in Palermo, Italy, said he discussed the situation with Swiss President Alain Berset and warned that Russian officials and heads of state-controlled companies will stay away from Davos if the restrictions against the three Russians aren’t lifted.