The AP reports:

Russian tycoon and New Jersey Nets owner Mikhail Prokhorov says his decision to head a pro-Kremlin political party was an “uneasy” one.

Prokhorov said Monday he would head the Just Cause party - what he later called in televised remarks “an uneasy and somewhat surprising decision.”

Just Cause hopes to win legislature seats in December parliamentary elections.

Reuters reports:

A Russian billionaire declared on Monday he sought to lead a party backing a second term for President Dmitry Medvedev, a move that could undermine an unwritten rule that tycoons stay out of politics.

Prime Minister Vladimir Putin, expected by many to run for president again in elections next year, cracked down on powerful “oligarchs” during his eight years in the Kremlin. Oil magnate Mikhail Khodorkovsky was stripped of his fortune and imprisoned. Others have left the country.

Mikhail Prokhorov, one of those who has made his peace with the Kremlin, said on Monday he hoped to lead Right Cause, a party with a mainly middle-class constituency which supports a liberal free market economy. It has no seats in parliament and was formed only two years ago.