Moscow: Russian President Vladimir Putin has recorded a commanding victory over his five rivals in the Presidential elections, based on counting of 86 per cent of the total votes polled, official results showed.

Putin, whose re-election to Presidential office for a second term has been always considered a forgone conclusion 0530 hrs (IST), consolidated his lead by bagging 70.5 per cent of the total votes. Communist Party rival Nikolai Kharitonov was trailing behind with 14.3 per cent of the votes.

"This trend is irreversible and the final tally could change only by a fraction of digit," CEC (Chief Election Commissioner) chairman Alexander Veshnyakov declared.

Addressing a televised news conference early today (Mar 15, 2004). Putin thanked his countrymen for their support and attributed his victory to his "intensive and honest" work in the first four-year term.

Talking about his foreign policy, he also mentioned Russia's intention to further develop its partnership with India and China.

"The goal of Russian foreign policy is not the demonstration of imperial ambitions, but creation of favourable external conditions for the development of Russia. We will build a multi-vector foreign policy, work with the US, Europe, with our Asian partners China and India, since Russia is a European as well as an Asian nation," Putin said responding to a question.

Putin expressed confidence that with the help of new Foreign Minister Sergei Lavrov, who has a decade long experience of working in the UN and his predecessor Igor Ivanov, now Secretary of advisory Security Council, he will be able to evolve effective mechanisms to pursue this goal.

Putin vowed to preserve the democratic achievements of the recent years and ensure the freedom of press in the country.

On the domestic front, he said that he would strive to develop genuine multi-party system in the country and advance economic reforms by adopting, the "golden, middle path".

Putin said that he would shortly announce his priorities and a shake up in his Kremlin administration.

When asked about his successor, he said he had started the search for that person four years ago.

"He has to be a decent and honest person, willing to serve his country, in Russia we have so many of them." Putin stopped short of naming any name.

He, however, added that at the end of his second term in 2008 he would not leave the country beset with problems that could not be solved through joint efforts.

Putin, who has sent Russia's richest man, oil baron Mikhail Khodorkovsky of Yukos, to jail allegedly for embezzlement of State funds and tax evasion, declared that in his second term he would build relations with business on the basis of stability, transparency and law.

The CEC is to formally declare the final results of yesterday's (Mar 14, 2004) Presidential polls on March 25 and in accordance with the constitution. Putin is expected to take the oath of his office for the second and final 4-year term.