MOSCOW -- A powerful new Russian political alliance presented its centrist platform Saturday for December parliamentary elections, saying the sweeping powers of the Russian presidency should be divided up.

The Fatherland-All Russia alliance -- forged by Moscow Mayor Yuri Luzhkov, former Prime Minister Yevgeny Primakov and a group of regional governors -- proposed weakening the presidency in favor of giving more power to parliament and the prime minister.The alliance is a powerful threat to President Boris Yeltsin, a key architect of Russia's current constitution, passed in 1993, which gives the president broad powers. Yeltsin's opponents and observers say that leaves power in Russia too unbalanced, and they have long urged amending the constitution.

Fatherland-All Russia is expected to do well in December's elections for the lower house of parliament. Also, both Primakov and Luzhkov are topping the polls as prospective candidates in next summer's presidential election, although both have been coy about running.

Yeltsin is barred by law from seeking a third term in the election, but there has been speculation that Kremlin aides are plotting to keep the 68-year-old president in power to preserve their own clout and benefits.

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Fatherland-All Russia released its entire platform Saturday, saying it opposes a return to a fully state-controlled economy but advocates greater government regulation over business.

It also advocates providing Yeltsin with "security" when he steps down, said Georgy Boos, who is running Fatherland-All Russia's electoral campaign.

Observers suggest that Yeltsin and his inner circle are worried about immunity from possible prosecution for corruption once Yeltsin leaves office. Boos did not say whether Yeltsin's entourage would be given immunity.

Fatherland-All Russia also approved its party list, which was led by Primakov, Luzhkov, and St. Petersburg governor Vladimir Yakovlev.

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