Ukraine conflict 'sending shock waves around the world,' EU warns; Soros says civilization may not survive war

It's unclear whether Kyiv might accept that Crimea remains in Russian hands, however.— Holly Ellyatt and Sam Meredith"We clearly see the consequences of Russia's invasion in Ukraine, it's sending shock waves around the world, and the world economic growth forecast has been revised downwards considerably and the same is true in the EU," Valdis Dombrovskis, European vice president and commissioner for trade for the European Commission, told CNBC on Wednesday.Speaking to CNBC at the World Economic Forum in Davos, which has been focused on the plight of Ukraine as Russia's invasion continues, as well as the global fallout from the war, Dombrovskis said the EU needed to act urgently to sever its energy ties with Russia.The invasion has led the EU to scramble to reduce its reliance on Russian gas supplies although an EU-wide embargo on oil and gas from Russia is still not agreed upon."We urgently need to move away from our dependence on Russian fossil fuels," Dombrovskis said.— Holly EllyattA Russian official has reportedly said Moscow is ready to provide a humanitarian corridor for ships carrying food to leave Ukraine, in return for the lifting of some sanctions."We are always ready for dialogue with everyone who strives for peace, for a peaceful resolution of all problems," Russian Deputy Foreign Minister Andrei Rudenko said Wednesday, according to Russian state news agency interfax."We have repeatedly spoken out on this subject that the solution to the food problem requires a comprehensive approach," he said, "including the removal of sanctions restrictions that were imposed on Russian exports and financial transactions."Russia is ready to provide the necessary humanitarian passage, Rudenko claimed.On Tuesday, the president of the European Commission, Ursula von der Leyen, accused Russia of "weaponizing" food supplies in Ukraine by blocking exports of basic produce from the country, such as wheat and cooking oil. Russia denies it is using food to pressure Ukraine's allies into loosening sanctions.Andrius Tursa, Central and Eastern Europe advisor at Teneo Intelligence, said in a note Wednesday that "there are no easy ways to unblock food exports via Ukraine's Black Sea ports," and that alternative export routes via land and rivers require time and investment to eliminate infrastructural and bureaucratic bottlenecks."The war will significantly lower Ukraine's food production and exports for the foreseeable future," Tursa said.— Holly EllyattMalawi's President Lazarus Chakwera said the rising prices of food, fuel and fertilizers — largely brought on by the war in Ukraine — is having an impact on the African economy."We should still work together to find solutions" to end the war, he said.— Holly EllyattThe shift away from Russian gas will be, in the short term at least, "really painful for the industry" in Germany, Covestro Chief Executive Markus Steilemann told CNBC at the World Economic Forum."There's very little opportunity to compensate [for that shift], it would cost hundreds of thousands of jobs — that's my personal belief — and it would really hammer down the German industry context."He said German industry needs to be supported with the energy transition away from Russian gas, adding that "what we need to do, with full force, is transition to renewable energies" and to develop that sector in Germany.— Holly EllyattThe U.S. has ended a crucial exemption that allowed Moscow to pay foreign debt to overseas investors in U.S. dollars through American and international banks, potentially forcing Russia into default.The Treasury Department's Office of Foreign Assets Control had permitted dollar payments on a case by case basis, enabling Russia to service its foreign debt up until now, although depleting its accumulated war chest of foreign currency reserves.