The President of Ukraine, whose name was mentioned in the Panama Papers, has denied trying to minimise his taxes.

Petro Poroshenko was among dozens of politicians named in millions of files leaked from an offshore law firm, Mossack Fonseca, to a German newspaper earlier this week.

Mr Poroshenko told reporters in Tokyo that he set up a blind trust offshore to separate his business and political interests when he became president in 2014.

"This is absolutely normal procedure, and I think this is the main difference from the naming of all the political figures in this Panama list," he said.

"If we have anything to be investigated, I am happy to do that," he added.

"But this is absolutely transparent from the very beginning.

"No hidden account, no associated management, no nothing."

Mr Poroshenko – nicknamed the 'chocolate king' – made a large amount of money from his confectionery company, Roshen.

When reporters asked him why he had not kept a campaign promise to sell his business if elected, Poroshenko said there were no buyers when his country was "in a state of war".

Ukraine’s fiscal service is to examine documents detailing his offshore assets.

Mr Poroshenko said he could not access those assets until the end of his presidency.

Iceland's Prime Minister became the first casualty of the Panama Papers when he resigned on Tuesday.

The leaked documents are said to show that Sigmundur David Gunnlaugsson and his wife owned a firm in the British Virgin Islands which held investments in Iceland's collapsed banks.

David Cameron has also been caught up in the controversy , after his late father Ian was named in the papers.

Meanwhile the top actor in Bollywood, Amitabh Bachchan, has denied any connection to four shipping companies registered in tax havens.

Responding to a story in the Indian Express based on the Panama Papers, he said: "It is possible that my name has been misused."

He insisted he was unaware of any of the companies he’d allegedly been linked with.

In a statement, he said: "I have paid all my taxes including on monies spent by me overseas … In any event the news report in the Indian Express doesn't even suggest any illegality on my part."