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KIEV, Ukraine—Opposition leader Viktor Yanukovych appeared to win Ukraine's presidential election, near-complete returns showed Monday, although his opponent showed no sign of conceding defeat.

Mr. Yanukovych polled 48.66% of the ballots cast Sunday, to 45.75% for Prime Minister Yulia Tymoshenko. Mr. Yanukovych proclaimed victory.

Nevertheless Ms. Tymoshenko didn't comment Monday, cancelling an afternoon press conference and closeting herself with aides. Her next move remains unclear, showing Ukraine could be in for a protracted struggle in the courts. Before the election she had threatened to call supporters onto the streets if there evidence of fraud.

International observers led by the Organization for Security and Cooperation in Europe judged the vote, in which nearly 70% of the electorate turned out, as free and fair, a sign that this former Soviet republic of 46 million people is behaving more like a Western democracy.

"Yesterday's vote was an impressive display of  sale women gucci shoes  democratic elections. For everyone in Ukraine, this election was a victory," Joao Soares, president of the OSCE parliamentary assembly said Monday.

The observer teamed called on both candidates to accept the results. "It is now time for the country's politicians to listen to the people's verdict and make sure that the transition of power is peaceful and constructive," Mr. Soares said.

If confirmed, Mr. Yanukovych's victory represents a remarkable comeback after his defeat in 2004, when mass protests, which became known as the Orange Revolution, overturned his disputed victory.

Then, Viktor Yushchenko won a court-ordered repeat ballot, and Ms. Tymoshenko, the fiery heroine of the protests, became prime minister. Nevertheless Mr. Yushchenko's constant arguing with Ms. Tymoshenko, his government's lagging reforms and an economic contraction of 15% last year opened the way for Mr. Yanukovych's return.

Mr. Yanukovych has pledged to oust Ms. Tymoshenko from her post as prime minister by attracting some of her current allies to a new coalition, led by his Party of Regions. If this move fails, he promised early parliamentary elections.

A protracted transition period would delay attempts to bring stability to the country's fragile economy. High on the new president's agenda is the  cheap gucci shoes  need to reboot a $16.4 billion lending program with the International Monetary Fund, which suspended its support late last year after budget-busting social spending increases were passed into law.