Russian tycoon Prokhorov could stand for president

Russian billionaire Mikhail Prokhorov said on Friday that he could run for the presidency in 2012 if his Right Cause party does well in December’s parliamentary polls.

“If the party comes second, we will put forward a candidate for the presidency. I don’t rule out my own candidacy,” Prokhorov said on his website.

Prokhorov, ranked Russia’s third richest man with a fortune of $18 billion by Forbes, formally quit business in July to go into politics and head the Right Cause party.

His party currently has no seats in Russia’s lower house of parliament.

If Prokhorov does stand, he is likely to face either President Dmitry Medvedev or Prime Minister Vladimir Putin in March’s presidential polls. Both have ruled out running against each other, and analysts expect an announcement after the December elections.

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