The Ukrainian Central Elections Commission has named Party of Regions leader Viktor Yanukovich the new president.

Ukrainian President Elect and Party of Regions leader Viktor Yanukovich has offered his election rival, Prime Minister Yulia Timoshenko to resign.

“That will help us form a new administration and resolve many problems,” Yanukovich said in a Sunday interview with the Inter channel.

He said he would start with the formation of a parliamentary coalition and the new government. “The door is open to all parliamentary forces,” Yanukovich remarked.

“This is wrong that I am not willing to speak to certain deputies. I have to act quickly and efficiently, which means I will have to negotiate with all political forces without exceptions and to find points of contact,” he said.

“The defeated team must leave without hampering our activity. Timoshenko and her parliamentary faction must do that. If they do not take part in the development of Ukraine, they will lose a lot,” the president elect said.

“Hopefully, many deputies from the Timoshenko faction will be pragmatic, and the parliament will work successfully,” he said.

“I have no doubt that we will form the parliamentary majority, which will accomplish the missions I define,” Yanukovich said.

According to the final election report of the Central Elections Commission, Yanukovich gained 48.95% of votes (12.48 million) in the February 7 election round, while his rival, Prime Minister Yulia Timoshenko, gained 45.47% of votes (11.59 million).

The turnout stood at 69.07%, the Central Elections Commission said.

A total of 4.36% of voters rejected both candidates.

Yanukovich will be inaugurated by March 14, in accordance with the Ukrainian election law.

The inauguration will take place on the last week of February, Yanukovich’s representative and Verkhovna Rada First Vice-Speaker Alexander Lavrinovich said.

“That is, if the election results are not challenged at the Ukrainian Supreme Administrative Court. If not, the inauguration ceremony will take place earlier,” he remarked.

The Timoshenko election staff called the final election report illegal.

“We will challenge this election report at court,” Timoshenko’s representative to the Central Elections Commission Vladimir Pilipenko said. “We are confident that this election report is unlawful. It disagrees with the Ukrainian presidential election law.”

The possible court appeal of the Prime Minister Yulia Timoshenko staff over the final election report will not be successful, in the opinion of Yanukovich’s representatives to the Central Elections Commission.

“The Supreme Administrative Court dispute the Timoshenko team may initiate will fail,” Lavrinovich said.

The Timoshenko staff has the right to challenge the election outcome within five days, he remarked. “The court will prove that their arguments are unfounded,” he said.

Lavrinovich regretted partiality of certain members of the Central Elections Commission.

All members of the Central Elections Commission signed the final election report on Sunday, but five of them representing Timoshenko expressed their ‘special opinion.’