Russian delegation heading to Davos after sanctioned oligarchs allowed in

The World Economic Forum said Monday that it had reached an agreement to allow sanctioned Russian tycoons to attend next month's Davos meeting, clearing Moscow to also send a full government delegation.

Russia warned last month that it would not send a delegation to the luxury Swiss ski resort town to mingle with the global business elite in January if top Russian oligarchs facing US sanctions were kept out.

The pressure appeared to work, with WEF announcing the sanctioned tycoons would now be welcome to attend the conference.

"I am pleased that after discussions with all relevant parties, careful consideration of international legal frameworks and strong support from the Swiss government, we are able to host business and political leaders from all G20 countries," said Alois Zwinggi, WEF's head of compliance, in a statement sent to AFP Monday.

He stressed that this was "essential", since to "address the pressing global challenges, we need all relevant parties at the Annual Meeting."