The Oscar winner decided to create a Eurasian analogue of the honorary film award in Russia.
The announcement appeared during the St. Petersburg International Forum of United Cultures.
Nikita Mikhalkov wants to create an analogue of the American Oscar, NEWS.ru reports.
The award will be called the Diamond Butterfly and the first ceremony is planned to be held in October 2025.
The Best Film award comes with a cash prize of $1 million.
Any country that defends traditional values and thinks about the future of cinema can participate.
Mikhalkov is an Oscar winner. The director received the award from the American Academy of Motion Picture Arts and Sciences in 1995 for the film Burnt by the Sun.
Recently, Ramzan Kadyrov awarded Mikhalkov the title of Honored Artist of the Chechen Republic.
He also recalled that the director’s debut film, “A Stranger Among Strangers, a Stranger Among His Own,” was filmed near Grozny.
