The Social Democratic Party of Russia (SDPR) was formed Saturday, and former Soviet President Mikhail Gorbachev was elected its head.
The new party unites 18 social democratic parties and organizations. Samara governor Konstantin Titov was elected chairman of its central committee at Saturday's inaugural conference in Moscow.
At the stage of registration, the SDPR will have more than 30, 000 members.
The party was created under the new federal law "On Political Parties" and intends to take part in regional and general elections, said Gorbachev.
The party program adopted by the SDPR founding congress calls for "social partnership and a historic compromise between labor and capital, society and the state, the individual and society," which will "lead Russia to social and spiritual progress."
The program also calls for Russia's transformation from a presidential republic into a presidential-parliamentary republic.