The ruling United Russia party will formally nominate Prime Minister Vladimir Putin as its presidential candidate next month.

The ruling United Russia party will formally nominate Prime Minister Vladimir Putin as its presidential candidate next month, a party leader said Wednesday.

Sergei Neverov, secretary of the party's General Council presidium, said the announcement would be made during the second part of the party congress on Nov. 27.

Though, he said the party still has to wait for the decision of the Federation Council, the upper house of parliament, to confirm the dates for the presidential elections.

The ruling party originally planned to nominate Putin only after the parliamentary elections scheduled for Dec. 4.

At the United Russia's congress in September, President Dmitry Medvedev ruled out the possibility of running for a second six-year term, proposing Putin instead.

According to the Russian Constitution, presidential elections must be announced no later than 90 days before the date of the elections. Presidential elections are scheduled on March 4, 2012.