Censor.NET reports citing The Guardian.
An unprecedented leak of documents shows how this money has made members of Putin's close circle fabulously wealthy.
Though the president's name does not appear in any of the records, the data reveals a pattern - his friends have earned millions from deals that seemingly could not have been secured without his patronage.
The documents suggest Putin's family has benefited from this money - his friends' fortunes appear his to spend.
The files are part of an unprecedented leak of millions of papers from the database of Mossack Fonseca, the world's fourth biggest offshore law firm. They show how the rich and powerful are able to exploit secret offshore tax regimes in myriad ways.
The offshore trail starts in Panama, darts through Russia, Switzerland and Cyprus - and includes a private ski resort where Putin's younger daughter, Katerina, got married in 2013.
The Panama Papers shine a particular spotlight on Sergei Roldugin, who is Putin's best friend. Roldugin introduced Putin to the woman he subsequently married, Lyudmila, and is godfather to Putin's older daughter, Maria.
Related materials: Panama offshore scandal
MP Soboliev on establishment of commission to investigate offshore practices and corruption: “We decided to take a break until morning. Commission may be formed without PPB members”(0)
Poroshenko's business partner Zaitsev owns offshore firm which bought fuel from Gazprom, - journalist. DOCUMENT(0)
"Have you no shame? Stop before I tell how you adopted budget-2014!" - Yuzhanina, Tymoshenko, and Kuzhel discuss deoffshorization bills. VIDEO(0)