Russian President Vladimir Putin has described US President Donald Trump’s threats of tariffs and sanctions against Russia as “smart and pragmatic.” Speaking to a Russian TV journalist on Jan. 24, Putin declared his openness to a meeting with Trump to address issues such as the war in Ukraine and the volatility of energy prices.

Welcome to CNBC’s live blog covering all the latest news, views and action on day 3 of the World Economic Forum in Davos, Switzerland.

Ukraine praised U.S. President Donald Trump on Thursday for threatening to impose tariffs and sanctions on Russia if it refuses to make a deal to end the war in Ukraine and said the comment sent a "strong signal".

U.S. President Donald Trump spoke by video link to the World Economic Forum on January 23. Referring to his pledge to swiftly end the war in Ukraine, Trump said he wants to meet with Russian President Vladimir Putin soon and intends to use tariffs and further sanctions to put pressure on Russia.

Appearing via video link at the World Economic Forum meeting in Davos, Switzerland, yesterday, President Donald Trump called the war in Ukraine “an absolute killing field” and said his efforts to end the conflict by brokering a ceasefire have already started.

The U.S. president used the World Economic Forum to offer the global elite a warning: He intends to follow through on his “America First” campaign promises.

WASHINGTON - President Donald Trump said on Thursday that the "Golden Age" of America had begun and that it was "back and open for business" while addressing business and political leaders gathered at the World Economic Forum’s annual meeting in Davos, Switzerland.

The president's remarks follow an announcement by Saudi Arabia's Crown Prince that the kingdom will invest $600 billion in the US.

By Maria Varenikova Russia says Ukraine shot down a military ... Ukraine’s president told world leaders at Davos that Europe needs to remain united and “learn how to take care of itself.”

Yulia Svyrydenko, Ukraine's economy minister, also said at Davos that Ukraine's economy had fared better than Russia's, but that sanctions on Russia needed to be strengthened to weaken the country ...

Before the Davos crowd, President Trump signaled a shift in tone, calling for an end to the war in Ukraine and placing the onus on Russia to come to the table.