Russian pro-reform party elects tycoon as leader
An upstart liberal pro-reform party in Russia has elected a business oligarch as its new leader.
Sunday, 26.06.2011.
15:25
An upstart liberal pro-reform party in Russia has elected a business oligarch as its new leader. This is the first time an industry tycoon has thrown his hat into the political ring since the infamous arrest of oilman Mikhail Khodorkovsky in 2003. Russian pro-reform party elects tycoon as leader Mikhail Prokhorov is now set to lead the Right Cause party. Prokhorov wants to overtake the Communists as the number two political party after Vladimir Putin's dominant United Russia party. United Russia currently holds 315 of the 450 seats in the lower house of parliament, the Duma. Just Cause currently holds no seats in the Duma. "Our country is called the Russian Federation, but by structure it is an empire," Prokhorov said. "Only presidential power works here, and this kind of governance cannot provide stability let alone development." Prokhorov heads the holding group Onexim, which has interests in industries that range from mining to the media. He amassed a fortune after selling a one-quarter stake in the mining company Norilsk Nickel just before the financial crisis hit in 2008. The business magazine Forbes estimates Prokhorov's wealth at EUR 12.6bn. Prokhorov is reputed to have good relations with the Kremlin, which approved the formation of the Right Cause party. He has avoided the use of the term "opposition" as unhelpful. "Our citizens associate the word opposition with marginal groups that have long lost touch with reality, not with political parties," Prokhorov said. The platform of the Right Cause shares many similarities with President Dmitry Medvedev's campaign for economic modernization. Several members of the Russian political establishment have shown signs of support for Just Cause, including Finance Minister Alexei Kudrin and Deputy Prime Minister Igor Shuvalov. Russia is set to hold presidential elections in 2012. Putin is expected to run as a candidate.
Russian pro-reform party elects tycoon as leader
Mikhail Prokhorov is now set to lead the Right Cause party. Prokhorov wants to overtake the Communists as the number two political party after Vladimir Putin's dominant United Russia party.United Russia currently holds 315 of the 450 seats in the lower house of parliament, the Duma. Just Cause currently holds no seats in the Duma.
"Our country is called the Russian Federation, but by structure it is an empire," Prokhorov said. "Only presidential power works here, and this kind of governance cannot provide stability let alone development."
Prokhorov heads the holding group Onexim, which has interests in industries that range from mining to the media.
He amassed a fortune after selling a one-quarter stake in the mining company Norilsk Nickel just before the financial crisis hit in 2008. The business magazine Forbes estimates Prokhorov's wealth at EUR 12.6bn.
Prokhorov is reputed to have good relations with the Kremlin, which approved the formation of the Right Cause party. He has avoided the use of the term "opposition" as unhelpful.
"Our citizens associate the word opposition with marginal groups that have long lost touch with reality, not with political parties," Prokhorov said.
The platform of the Right Cause shares many similarities with President Dmitry Medvedev's campaign for economic modernization.
Several members of the Russian political establishment have shown signs of support for Just Cause, including Finance Minister Alexei Kudrin and Deputy Prime Minister Igor Shuvalov.
Russia is set to hold presidential elections in 2012. Putin is expected to run as a candidate.
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