Vladimir Putin's nominated successor, Dmitry Medvedev, said that if elected president in March, he'll appoint Putin as his prime minister, giving the current leader a platform to retain power after his term ends.
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Putin, who has to step down in May after serving two consecutive four-year terms, said yesterday that he supports Medvedev, 42, as his successor. The Russian leader has long said he'll retain a guiding role once out of the Kremlin and today's announcement gives him the option of staying at the heart of decision-making.``This is the most simple, elegant and legal way for Putin to maintain influence,'' said James Fenkner, who manages $100 million of assets at Moscow-based Red Star Asset Management. ``Continuity is essential. Having a vacuum or infighting in the coming years could damage Russia's economy.''
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