Earlier this week, the Kremlin blamed "Putinophobia" for claims some of Mr Putin's associates moved millions of dollars through offshore companies in a series of covert deals.
In his first statement on the Panama Papers, Mr Putin said one of his closest friends, cellist Sergei Roldugin, had done nothing wrong. Mr Roldugin was revealed as the owner £1.42 billion in offshore assets.
Over 11.5 million files were leaked from the Panama-based law firm Mossack Fonseca. The documents contain information on 215,000 offshore entities, connected to individuals in more than 200 countries and territories.