Ukraine's Yanukovich claims narrow win

Some analysts said that given the relative weakness of his position he might seek some compromise with Tymoshenko and they did not rule out the possibility that the two camps were talking to each other on this.

Under this scenario, Tymoshenko might concede defeat in exchange for remaining prime minister and living to fight for the presidency another day.

Tymoshenko was the co-architect of the 2004 revolution with pro-Western President Viktor Yushchenko, but their relationship quickly soured.

Looking stern in front of reporters, the fiery former gas tycoon urged her team to "fight for every result, every document, every vote." The tone was moderate and analysts said they doubted Tymoshenko could stage a repeat of 2004.

ORANGE REVOLUTION BURIED?

A disputed outcome would further delay Ukraine's chances of repaying more than $100 billion (64 billion pounds) of foreign debt and nursing its sickly economy back to health after a 15 percent collapse last year.

In Russia, the source of the gas which flows through Ukraine's pipeline network to the West, the election was closely watched but state-controlled media avoided taking sides.

Sunday's vote, conducted in freezing temperatures and snow, appeared to reflect widespread disillusion among Ukrainians that the Orange Revolution failed to deliver prosperity or stability.

Yushchenko came a humiliating fifth in the first round of the election in January.

The $120 billion economy has been battered by a decline in the value of Ukraine's steel and chemicals exports that has hammered the hryvnia currency, slashed budget revenues and undermined the domestic banking system.