Russia's Putin set to return as president in 2012

Russian Prime Minister Vladimir Putin says he has accepted a proposal to stand for president in March 2012.

Addressing the ruling United Russia party's annual congress, Mr Putin and current President Dmitry Medvedev backed one another to switch roles.

The announcements end speculation over which man should run for the top job.

United Russia, which Mr Putin leads, dominates the country's politics and observers say his return to the Kremlin is now all but guaranteed.

He had already served two terms as president before Mr Medvedev took over in 2008. Mr Putin was barred by the constitution from running for a third consecutive term.

"I want to thank you for the positive reaction to the proposal for me to stand for Russian president," he told delegates after Mr Medvedev suggested he should be a candidate.

"For me this is a great honour."

Mr Putin also indicated that Mr Medvedev could become prime minister following the 4 December parliamentary vote.

"I am certain that United Russia will win, and based on popular support, Dmitry Anatolyevich will be able to create a new, effective, young, energetic management team and head the government of the Russian Federation," he said.

Mr Medvedev had earlier accepted a proposal that he head the party's list of candidates in the elections and spoke of his "readiness to assume practical work in the government" in the future.Backing Mr Putin for president, he said: "I think it would be correct for the congress to support the candidacy of the party chairman, Vladimir Putin, to the post of president of the country."

The congress must formally nominate Mr Putin as its presidential candidate - but that appears all but certain given the cheering and applause that greeted Mr Medvedev's proposal.

There have been months of speculation that Mr Putin planned to return to the Kremlin when elections are held in March.

Correspondents say most Russians believe he has greater influence in the country and far more power than Mr Medvedev.
'Bitter medicine'

Mr Putin told delegates that the two men had reached agreement on who should hold which post "a long time ago, several years back".

He also warned of possible, unpopular measures to cope with the global financial turmoil.

"The task of the government is not only to pour honey into a cup, but sometimes to give bitter medicine," Mr Putin said.