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Vladimir Putin Slated to Return to Russian Presidency in 2012

Alexey Druzhinin/AFP/Getty Images(MOSCOW) -- Russian Prime Minister Vladimir Putin accepted a proposal Saturday from Russian President Dmitry Medvedev to stand for president in March 2012.

President Medvedev made the proposal during an address to the congress of United Russia, the pro-Kremlin party that currently dominates Russian politics.

Putin, who previously served two terms as president before Medvedev, also announced Saturday in a surprising suggestion that Russia's wealthy should pay higher taxes than average citizens.

Copyright 2011 ABC News Radio

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