Whyte was in complete control of the fight and floored the Russian twice in the fourth round.
However, a devastating left uppercut from Povetkin, ended the bout in the fifth round.
If Whyte had won, he would have had a mandatory challenge of Tyson Fury’s WBC heavyweight championship finally enforced after a 1000-day wait.
But now, the path could now be clear for Fury and Anthony Joshua, to decide the undisputed heavyweight title, after terms have been agreed to two fights in 2021.
Povetkin took home the WBC interim title and its Diamond belt, and could inherit a future chance at Fury’s world championship, although a rematch clause will first be exercised.