President Boris Yeltsin today sprung a dramatic surprise on Russia as he announced his resignation to end a tumultuous political career.
The announcement caught Russia totally unawares and is likely to launch Russia into further political turmoil as parties scramble for unexpected presidential elections. Looking pale and grim in a speech on national television, Mr Yeltsin said he had turned over his powers to prime minister Vladimir Putin, his hand-picked successor.
"Today, on the last day of the outgoing century, I resign," Mr Yeltsin said. The resignation appeared timed to capitalise on the success in recent parliamentary elections of pro-Kremlin, centrist parties that support Mr Putin.
Under the Russian constitution, presidential elections must be held within 90 days of the president's resignation. Mr Putin will act as president during the interim, giving him an even bigger advantage in the contest to become the man to lead Russia into the 21st century.
The announcement was the latest flourish from a man with a flair for the dramatic. In a statement redolent of contrition, Mr Yeltsin appealed to Russians to forgive him for what he said had been the errors of his administration. It was a highly unusual admission from a leader who rarely admitted mistakes and always insisted that his policies were correct.
"I want to beg forgiveness for your dreams that never came true. And also I would like to beg forgiveness not to have justified your hopes," he said.
Mr Yeltsin said he saw no point in staying in power for the last six months of his term because Mr Putin was well-suited to take over. Mr Yeltsin said he was confident that Russia would not return to its authoritarian past and would develop as a modern democratic nation.
"I shouldn't be in the way of the natural course of history. To cling to power for another six months when the country has a strong person worthy of becoming president - why should I stand in his way? Why should I wait? It's not in my character," Mr Yeltsin said.
Mr Yeltsin presided over Russia through its chaotic transition from a communist to a free market economy. Although initially seen as a hero as he stood up to old guard forces, Mr Yeltsin became increasingly unpopular as his attempts to build a market economy floundered in corruption and incompetence.
The 68-year-old leader, himself, became tainted in recent months and his choice of Mr Putin is widely seen as an attempt to protect his family once he gives up the reins of power. The Kremlin has been tarred during the past year with widespread allegations of corruption, insider dealing and other irregularities. Members of the president's family, particularly his daughter Tatyana Dyachenko, have been linked to the allegations.
Plagued for years by heart and other health problems, Mr Yeltsin has largely been out of sight during his second term. He spent many weeks sidelined at his country residence outside Moscow and was largely seen as a caretaker president. But he continued to dominate Russian politics, despite his ill health. He easily defeated a Communist-led effort in May to impeach him and had dismissed four prime ministers in the last two years.
Mr Putin, a former KGB officer who only became prime minister in August, is widely seen as the most popular politician in Russia. His strong handling of the war in Chechnya and no-nonsense manner has appealed to many Russians, who want strong leadership to tackle their country's enormous economic, political and social problems.