Ukraine war live updates: Ukraine says it needs China for any peace process with Russia; Moscow says Kyiv's plans mean nothing

This is CNBC's live blog tracking developments on the war in Ukraine. See below for the latest updates. 

Ukraine presented its plan for peace in Switzerland on Sunday, on the eve of the World Economic Forum —but with Russia absent from the event, little tangible progress was made toward peace.

Presenting Ukraine's 10-point "peace formula" in Davos to delegates from 83 countries, Ukraine's presidential chief of staff Andriy Yermak said Sunday that China needs to be involved in future talks to end the war with Russia.

But Russia and its ally China — seen to be one of the few countries that can influence Moscow — were not involved in the even co-hosted by Switzerland and Ukraine.

Russia previously rebuffed Ukraine's peace plan, which calls for all Russian troops to leave Ukrainian territory, and described previous peace formula talks, to which it was not invited, as "absurd." On Monday, the Kremlin poured cold water on the latest talks, saying peace proposals mean nothing without Moscow's involvement.

Relations between Kyiv and Beijing remain somewhat frosty. Yermak was asked whether President Volodymyr Zelenskyy will meet Chinese Premier Li Qiang in Davos this week, with both officials attending WEF. Yermak told a news briefing "let's see," adding he had not seen the Ukrainian president's final agenda, Reuters reported.

The wars in Ukraine and the Middle East will cast a long shadow over the World Economic Forum this week. Global business and political leaders and officials are expected to discuss the war in Ukraine as it approaches its second anniversary and a resolution seems far off.

A photo and video exhibition showcasing the atrocities of war dominates at the Ukraine House in Davos, Switzerland.

For the third year