Ukraine`s prime minister is accusing the president of seeking to usurp power by annulling an upcoming presidential vote, AP reported.

Yulia Tymoshenko is in a messy tug-of-war with President Viktor Yushchenko amid a devastating financial crisis.

Tymoshenko alleged to reporters Wednesday that highly unpopular Yushchenko is plotting to impose a state of emergency. She said this may allow him to avoid an election due to be held in a year`s time.

Yushchenko`s office declined comment. He previously has also accused Tymoshenko of seeking to cement her grip on power.

Both leaders have blamed each other for allowing the national currency to devalue by nearly 40 percent, raising the risk of a default among major corporations and banks.

AP via International Herald Tribune