Farid Babayev, the leader of the liberal Yabloko party in the Republic of Daghestan, sustained four gunshot wounds, including one to the head, on Wednesday night.
"Babayev died of his wounds without regaining consciousness," he said.
Babayev was shot by unknown assailants at the entranceway of his apartment block in Makhachkala, the capital of the North Caucasus republic.
Yabloko is running in the December 2 election to the State Duma.
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The main event of the third day of the 11th meeting of the Valdai International Discussion Club in Sochi was the closing session with President Vladimir Putin. The atmosphere was calm and open, despite the current political tensions and the Russia-West confrontation. The Russian president said that it corresponded to the spirit of the Valdai Club.