The Russian billionaire resigned earlier this month as governor of Chukotka, which has a population of 50,000 and lies opposite Alaska on the Bering Strait.

Mr Abramovich's spokesman said that he had agreed to run for a seat at the request of local officials.

The elections are scheduled for October.

Mr Abramovich was governor of the region for eight years.

One Chukotka official said the tycoon invested about two billion US dollars in the region while governor.