Putin Names a Successor.

Showing the world that he really is planning to relinquish power after elections in March, President Vladimir Putin anointed a successor on Monday.

Putin said he would support Dmitry Medvedev, first deputy prime minister, as the presidential candidate of the United Russia party, pleasing investors who sent Russian stocks about 2% higher on the day in Moscow. A notable gainer was the huge energy supplier Gazprom (other-otc: OGZPY - news - people ), of which Medvedev is chairman. It jumped 3% in a matter of minutes after the announcement.

"It's the best-case outcome for U.S. interests," said Andrew Kuchins, an analyst at the Center for Strategic and International Studies in Washington. "If Putin had stayed in power as president it would consign Russia to political stagnation."

Read the article