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Poroshenko defends offshore assets amid 'Panama Papers' leak

The Ukrainian President says he's done nothing wrong, as lawmakers call for an investigation into allegations he used an offshore firm to avoid tax.

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Poroshenko defends offshore assets amid 'Panama Papers' leak

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Ukrainian President Petro Poroshenko said on Monday (April 4) he’d done nothing wrong, after lawmakers called for an investigation into allegations he used an offshore firm to avoid tax.

Point of view

I believe I might be the first top official in Ukraine who treats declaring of assets, paying taxes, conflict of interest issues seriously

He is cited in the so-called Panama Papers as having set up a company in the Virgin Islands for his confectionery business, Roshen, in August 2014.

Poroshenko said on Twitter he had handed over management of his assets to consulting and law firms when he took office two years ago.

Poroshenko’s legal adviser, Kiev-based Avellum, called the tax-evasion allegations groundless and said Roshen met all its Ukrainian tax obligations.

Lawmakers, including from within his own faction, have called for a parliamentary committee to look into the allegations.

Under Ukrainian law, only parliament can launch an investigation into a sitting president.