President Vladimir Putin acknowledged that information in the Panama Papers implicating people in his inner circle to offshore transactions was accurate, but dismissed the leak -- which he tied to Goldman Sachs Group Inc. -- as part of U.S. efforts to influence Russia’s upcoming elections.
“Odd as it may seem, they aren’t publishing false information on offshores,” Putin said during his annual call-in show Thursday. “They’re not accusing anyone of anything specific. They’re just casting a shadow.”
The leak of more than 11 million documents revealed how politicians, banks, celebrities and criminals across the globe used offshore companies to hide wealth over the past four decades. While the practice can be completely legal, the anonymous ownership of shell companies can enable tax evasion, money laundering, sanctions-dodging and kleptocracy.
The documents show at least $2 billion in transactions involved people and companies that had ties to Putin, according to reports published this month by the International Consortium of Investigative Journalists.