This photo is all over the Russian LiveJournal-sphere. The original is here.
It's St. Pete, 1994, and the man reading a newspaper in the background is Vladimir Putin.
My favorite caption to this photo is by Marina Litvinovich: Lyuda chose this suit for him, yes.
Lyuda is Lyudmila Putina, Putin's wife, Russia's first lady with a truly horrible taste. She's not in the picture. The man in the foreground is Anatoly Sobchak, St. Pete's governor (or mayor: I'm not sure what they called themselves then) and also the one who jumpstarted Putin's career.