Berezovsky wields wealth in battle against Putin

Exiled Russian billionaire Boris Berezovsky pledged Sept. 9 to spend some 3 percent of his personal fortune - $100 million - in a bid to rally opposition to President Vladimir Putin who faces re-election in 2004.

Berezovsky, who is living in self-imposed exile in London to escape from what he says are politically motivated fraud charges, said in a newspaper interview that the funds would be spent in the run-up to the next parliamentary election in December 2003.

"For the project to be successful, (I will spend) around $100 million," he told the Vedemosti business daily.

Russia's Justice Ministry refused in July to register the tycoon's party, Liberal Russia, saying it had failed to provide adequate documentation. Party officials denounced the decision as political and vowed to appeal against it.

The 56-year-old Berezovsky was a close ally of former President Boris Yeltsin during his reign in the Kremlin. But he fell out with Yeltsin's successor, Putin, and turned his media empire against him.

The one-time oligarch, who was stripped of his control of ORT public television and the TV6 private channel, is now the subject of an arrest warrant on charges that he embezzled funds from national air carrier Aeroflot. But he has continued to denounce Putin from London, accusing him of totalitarian tendencies.

"Putin has not allowed me into the country for the past two years. It's clear that an authoritarian state is being established, in the fullest sense of the word," he told Vedemosti.

He said his movement was still deciding whether to run in the election alone or in alliance with other parties, including the center-right Yabloko and the Union of Right-Wing Forces.

But political analysts doubt either of these parties would agree to associate themselves with such a controversial figure.

The legislative poll will be a key forerunner to presidential elections in March 2004.

Berezovsky has no illusions about the chances of his party, according to Yury Korgunyuk, director of the INDEM think-tank.

In the analyst's view, the controversial tycoon is seeking to avoid the British authorities handing him over to Russia by continuing to play the role of a political dissident.

"He needs to promote the image of a political opponent to Putin so he can feel safe," Korgunyuk said. "He is being investigated on a purely criminal basis, for stealing funds from Aeroflot. If he stops fighting the Putin regime, there will be no reason for Western judicial authorities to refuse Russian prosecutors' demand for his extradition."

Berezovsky said he estimated his assets were worth $3 billion, divided equally between Russia and abroad.

Among other Russian companies, he said he owned shares in the oil company Sibneft and metals giant RusAl, which accounts for 10 percent of the world aluminum market.

Asked how many shares he owned in RusAl, Berezovsky said his holding allowed him to take part in decision-making on any issue.

Both companies denied, however, that the billionaire businessman was a shareholder.

The tycoon also said he controlled 100 percent of the Kommersant publishing group, which owns the Kommersant business daily, and 10 percent of STS television station.