Vladimir Putin wins Russian presidential election with more than 75 percent

Vladimir Putin told supporters in a victory speech in Moscow that Russia was "bound for success". He won a re-election victory on Sunday garnering 76.7 percent of the vote with more than 99 percent of precincts reporting.

Addressing his supporters at a victory rally in Moscow, Putin said the election result was a recognition of what had been achieved in the past few years, despite difficult conditions. He said Russia had a great future ahead of it, so long as its people stayed united.

Communist candidate Pavel Grudinin is set to secure the second place (11,92% of votes) followed by nationalist Vladimir Zhirinovsky (5,77% of votes) who is on track to a third place finish.

Turnout was reportedly 67 percent, which would be higher than at Putin's last electoral victory in 2012. Analysts believed Putin had been aiming for a high voter turnout to secure a clear mandate for his fourth term in office.