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Poroshenko Defends Himself Over 'Panama Papers' Leak

Ukrainian President Petro Poroshenko has defended himself in the massive leak of records on offshore accounts that has named political officials, businesspeople, and celebrities from around the world.

Speaking at a news conference in Tokyo on April 6, Poroshenko said that an offshore holding company set up for his candy business was a necessary step to put his assets into a blind trust when he became president in 2014.

Commentators say the leaks have raised suspicion that such offshore entities were set up to avoid taxes. Iceland's prime minister resigned as the scandal deepened on April 5.

Poroshenko insisted that his case is different than Iceland's or Russia's, and that the company was not set up to minimize taxes.

He is in Japan this week to meet the Japanese prime minister and business leaders.

Based on reporting by AP and Interfax