Russia says US is 'world's largest offshore and tax haven' after Pandora Papers leak

In its first response following the stunning revelations of the Pandora Papers that include Russian President Vladimir Putin’s name, Kremlin spokesperson Dmitry Peskov said on October 4 that the United States remains 'the largest tax haven in the world' despite its pledge to tackle corruption and money laundering. The stunning leak of Pandora Papers exposed secret wealth and dealings of leaders, politicians and billionaires across the globe, in one of the biggest leaks of financial documents.

"Probably, the only thing that really catches the eye is the revelation of which country is the world's largest offshore and tax haven. This is certainly the US," Peskov told reporters, as per a report by ANI.

“This does not quite match the claims about the intention to fight corruption, tax evasion and money laundering. But this is the reality. We see that the US is the main tax haven for the whole world," Peskov informed.

From Russian President Vladimir Putin’s secret assets in Monaco to Czech Prime Minister Andrej Babis failing to declare an offshore investment company used to buy villas in France, the Pandora Papers also revealed the names of 700 Pakistani individuals and members of Pakistan Prime Minister Imran Khan’s inner circle, including his cabinet ministers. The documents have revealed the cabinet ministers in Pakistan and their families have secretly owned a massive range of companies holding millions of dollars in hidden wealth, stated International Consortium of Investigative Journalists (ICIJ).

Opposition demands Imran Khan’s resignation

After the shocking release of the Pandora Papers that included names of major world leaders, including close associates of Pakistan Prime Minister Imran Khan, Opposition leader and Pakistan Muslim League-Nawaz (PML-N) Secretary-General Ahsan Iqbal demanded the resignation of country's premier. As per a report by The Nation, while addressing a press conference, PML-N Secretary-General said that Pakistan PM should resign as his name has already appeared in the Toshakhana case and it would also appear in the Pandora Papers. 

"After Imran Khan's name surfaced in Pandora leaks, there is no moral justification for him to retain the post of the premier," Iqbal said.

As the Pakistani political scene is rocked by the recent revelations, PML-N Secretary-General said that Khan’s Pandora box is about to open. According to The Nation, Iqbal also said that Pakistan PM, who has touted his leadership and hailed his anti-corruption campaign, was hiding facts himself on an array of facts including details of foreign gifts. He has also blamed Khan for the increase in Pakistan’s inflation which is stemmed from the poor policies of his government. PML-N Secretary-General was quoted as saying, "Today a person who earns Pakistani Rs 25,000 to Rs 30,000 a month cannot bear the expenses of his household honourably."

IMAGE: AP