The Commission said that Yanukovich had scored 48.23 percent and Tymoshenko had 46.14 percent after 95.04 percent of the vote had been counted.

Ukraine´s opposition leader, Yanukovich claimed the slender win that could tilt the former Soviet republic back toward Moscow, but bitter rival Yulia Tymoshenko refused to concede.

The close result dominated Ukrainian morning newspapers on Monday. National newspaper Segodnia carried front page pictures of both Yanukovich and Tymoshenko with a headline reading: ´would she admit the defeat? will he secure victory?´

People in the street in the capital Kiev had mixed views reflecting the close result.

Tymoshenko denied Yanukovich victory in a 2004 rigged election through mass protests that she led. She has threatened to challenge the result in court or bring her supporters out on the street again if there is any evidence of fraud.