Russian billionaire Mikhail Prokhorov says he will not run in the upcoming elections for Moscow mayor.
At a Moscow news conference on June 13, Prokhorov said his Civil Platform party will not nominate candidates in the election.
He said his party "will not participate in the procedure of prolonging the current mayor's license."
He said his party instead will focus its efforts on preparing for next year's elections for the Moscow City legislature.
The Moscow mayoral election is set to take place on September 8 after Sergei Sobyanin, in a surprise move last week, stepped down from the post.
President Vladimir Putin accepted Sobyanin's resignation and appointed him acting mayor.
Sobyanin is among leaders of the ruling United Russia party but has said he will run in the mayoral election as an independent.
Based on reporting by Interfax and ITAR-TASS