LONDON/PANAMA CITY: Governments across the world began investigating possible financial wrongdoing by the rich and powerful on Monday following a leak of documents from a Panamanian law firm, which allegedly showed how clients avoided tax or laundered money.
The documents detailed schemes involving an array of figures from friends of Russian President Vladimir Putin to relatives of the prime ministers of Britain, Iceland and Pakistan and as well as the president of Ukraine, journalists who received them said.
While the “Panama Papers” detail complex financial arrangements benefitting the world’s elite, they do not necessarily mean the schemes were all illegal.
The Kremlin said the documents contained “nothing concrete and nothing new” while a spokesman for British Prime Minister David Cameron said his late father’s reported links to an offshore company were a “private matter.”
Iceland’s Prime Minister Sigmundur Gunnlaugsson could not immediately be reached for comment on the naming of his wife in connection with a secretive company in an offshore haven, which brought opposition calls for him to resign.
Ukrainian President Petro Poroshenko has not commented on his reported offshore links.
Opponents said Poroshenko should be impeached for allegedly transfering his confectionary business to an offshore company in 2014, amid fierce fighting between Ukraine and pro-Russian separatists. A senior official from the General Prosecutor’s office said there was no evidence he had committed a crime.
Australia, New Zealand, India, France and Austria were among countries, which said they had begun investigating the allegations, based on more than 11.5 million documents from law firm Mossack Fonseca, located in the tax haven of Panama. Banks as well as individual clients came under the spotlight.
The documents were leaked to the International Consortium of Investigative Journalists (ICIJ) and more than 100 other news organizations. Mossack Fonseca has denied any wrongdoing.
The material covers a period over almost 40 years, from 1977 until last December, and allegedly show that some companies domiciled in tax havens were being used for suspected money laundering, arms and drug deals, and tax evasion.
Britain’s Guardian newspaper said the documents showed a network of secret offshore deals and loans worth $2 billion led to close friends of Putin, including concert cellist Sergie Rolddugin. Reuters could not confirm those details.
Putin’s spokesman dismissed the reports, saying they aimed to discredit him ahead of upcoming elections.
“This Putinophobia abroad has reached such a point that it is in fact taboo to say something good about Russia, or about any actions by Russia or any Russian achievements. But it’s a must to say bad things, a lot of bad things, and when there’s nothing to say, it must be concocted. This is evident to us.”
The publications contained “nothing concrete and nothing new” about Putin, Kremlin spokesman Dmitry Peskov said.
The British government asked for a copy of the leaked data, which could be embarrassing for Prime Minister Cameron, who has spoken out against tax evasion and tax avoidance.
His late father, Ian Cameron, is mentioned in the files, alongside some members of his Conservative Party in the upper house of parliament, former Conservative lawmakers and party donors, British media said.
Jennie Granger, director general of enforcement and compliance at HM Revenue and Customs, said the government had a great deal of information from a wide range of sources.
“We will closely examine this data and will act on it swiftly and appropriately,” she said.Cameron’s spokeswoman declined to comment on whether the leader’s family had money invested in offshore funds set up by his father, saying it was a “private matter.”
Tax authorities in Australia and New Zealand said they were probing local clients of Mossack Fonseca.
The head of Mossack Fonseca, Ramon Fonseca, has denied any wrongdoing but said his firm had suffered a successful but “limited” hack on its database. He described the hack and leak as “an international campaign against privacy.”
Fonseca, who was up until March a senior government official in Panama, said that the firm, which specializes in setting up offshore companies, has formed more than 240,000 such companies, the “vast majority” used for “legitimate purposes.”
World figures deny wrongdoing as ‘Panama Papers’ turn spotlight on tax
World figures deny wrongdoing as ‘Panama Papers’ turn spotlight on tax
Rubio fields questions on Russia-Ukraine, Gaza and Venezuela at wide-ranging news conference
- “There’s no peace deal unless Ukraine agrees to it. But there’s also no peace deal unless Russia agrees to it,” Rubio said
- “We have a limited amount of money that can be dedicated to foreign aid and humanitarian assistance“
WASHINGTON: Secretary of State Marco Rubio weighed in on Russia-Ukraine and Israel-Hamas peace efforts and defended the Trump administration’s increasing military pressure on Venezuela during a rare, end-of-year news conference Friday.
In a freewheeling, more than hourlong meeting with reporters, Rubio also defended President Donald Trump’s radical overhaul in foreign assistance and detailed the administration’s work to reach a humanitarian ceasefire in Sudan in time for the new year.
Rubio’s appearance in the State Department briefing room comes as key meetings on Gaza and Russia-Ukraine are set to be held in Miami on Friday and Saturday after a tumultuous year in US foreign policy. Rubio has assumed the additional role of national security adviser and emerged as a staunch defender of Trump’s “America First” priorities on issues ranging from visa restrictions to a shakeup of the State Department bureaucracy.
“When I was a senator, I represented the state of Florida,” he said. Now, “my job is to implement the president’s foreign policy — provide advice, provide counsel, provide ideas, provide for opportunities and ways in which his foreign policy can be implemented.”
The news conference is taking place just hours before Trump’s special envoy Steve Witkoff meets with senior officials from Egypt, Turkiye and Qatar to discuss the next phase of the Republican president’s Gaza ceasefire plan, progress on which has moved slowly since it was announced in October.
Witkoff and other US officials, including Trump son-in-law and informal adviser Jared Kushner, have been pushing to get the Gaza plan implemented by setting up a “Board of Peace” that will oversee the territory after two years of war and create an international stabilization force that would police the area.
On Saturday, Witkoff, Kushner and Rubio, who will be at his home in Florida for the holidays, are to meet with Russian President Vladimir Putin’s adviser Kirill Dmitriev in Miami to go over the latest iteration of a US-proposed plan to end the Russia-Ukraine war.
“There’s no peace deal unless Ukraine agrees to it. But there’s also no peace deal unless Russia agrees to it,” Rubio said. ″So our job is not to force anything on anyone. It is to try to figure out if we can nudge both sides to a common place.”
The US proposal has been through numerous versions with Trump seesawing back and forth between offering support and encouragement for Ukraine and then seemingly sympathizing with Putin’s hard-line stances by pushing Ukrainian President Volodymyr Zelensky to agree to territorial concessions. Kyiv has rejected that concession in return for security guarantees intended to protect Ukraine from future Russian incursions.
On Venezuela, Rubio has been a leading proponent of military operations against suspected drug-running vessels that have been targeted by the Pentagon in the Caribbean Sea and the eastern Pacific Ocean since early September. The Trump administration’s actions have ramped up pressure on leftist Venezuelan President Nicolás Maduro, who has been charged with narco-terrorism in the US
In an interview with NBC News on Friday, Trump would not rule out a war with Venezuela. But Rubio and Defense Secretary Pete Hegseth have publicly maintained that the current operations are directed at “narco-terrorists” trying to smuggle deadly drugs into the United States. Maduro has insisted the real purpose of the US military operations is to force him from office.
Rubio sidestepped a direct question about whether the US wants “regime change in 2026” in the South American country.
“We have a regime that’s illegitimate, that cooperates with Iran, that cooperates with Hezbollah, that cooperates with narco-trafficking and narco-terrorist organizations,” Rubio said, “including not just protecting their shipments and allowing them to operate with impunity, but also allows some of them to control territory.”
Rubio’s news conference comes just two days after the Trump administration announced a massive $11 billion package of arms sales to Taiwan, a move that infuriated Beijing, which has vowed to retake the island by force if necessary.
Trump has veered between conciliatory and aggressive messages to China since returning to the Oval Office in January, hitting Chinese imports with major tariffs but at the same time offering to ease commercial pressure on Beijing in conversations with China’s President Xi Jinping. The Trump administration, though, has consistently decried China’s increasingly aggressive posture toward Taiwan and its smaller neighbors in disputes over the South China Sea.
Since taking over the State Department, Rubio has moved swiftly to implement Trump’s “America First” agenda, helping dismantle the US Agency for International Development and reducing the size of the diplomatic corps through a significant reorganization. Previous administrations have distributed billions of dollars in foreign assistance over the past five decades through USAID.
Critics have said the decision to eliminate USAID and slash foreign aid spending has cost lives overseas, although Rubio and others have denied this, pointing to ongoing disaster relief operations in the Philippines, the Caribbean and elsewhere, along with new global health compacts being signed with countries that previously had programs run by USAID.
“We have a limited amount of money that can be dedicated to foreign aid and humanitarian assistance,” Rubio said. “And that has to be applied in a way that furthers our national interest.”
