The Kremlin has blamed “Putinophobia” for claims that some of the Russian President's closest allies are involved in offshore financial schemes revealed by a huge leak.

Vladimir Putin was not named in the files dubbed the Panama Papers, which contain information on 215,000 offshore entities connected to individuals in more than 200 countries and territories.

According to the International Consortium of Investigative Journalists (ICIJ), which co-ordinated research into the 11 million documents, they reveal “covert manoeuvres” by banks, companies and associates close to the Russian President as they transferred huge sums of money.

What are The Panama Papers?

Ahead of the report’s publication on Sunday, the Kremlin announced an upcoming “information attack” and accused journalists of attempting to discredit Mr Putin.

Dmitry Peskov, the Russian President’s official spokesperson, said he was “obviously the main target” of the reports, which he claimed aimed to destabilise the country and influence parliamentary elections scheduled for September.

“This Putinophobia abroad has reached such a point that it is in fact taboo to say something good about Russia, or about any actions by Russia or any Russian achievements,” he added in comments translated by the BBC.

“But it's a must to say bad things, a lot of bad things, and when there's nothing to say, it must be concocted. This is evident to us.“

Mr Peskov said international media had wrongly focused on Mr Putin instead of other world politicians, even though he was not implicated in any wrongdoing, and suggested the ICIJ had ties to the US government.

Leaked documents show that close allies of Russian President Putin, center, used offshore accounts based in Panama City to hide their money (Alamy)

“We expected better quality summaries in the work from the journalistic community,” he added. “The traditions of quality journalistic research have declined.”

Russia's opposition newspaper, Novaya Gazeta, carried a seven-page report on details of Mr Putin's associates named in the leaks but the story was notably absent from state-controlled television.

The documents contain alleged evidence that some of the Russian President’s closest friends, including cellist Sergei Rodulgin, ran a “clandestine network” that moved millions of dollars through offshore companies in a series of covert deals.

"I don't consider it possible to go into the details, mainly because there is nothing concrete and nothing new about Putin, and a lack of details,” Mr Peskov told reporters.

He confirmed that Mr Rodulgin is a friend of Mr Putin's but said the President “has very many friends”.

World leaders linked to 'Panama Papers' Show all 15 1 /15 World leaders linked to 'Panama Papers' World leaders linked to 'Panama Papers' Petro Poroshenko President of Ukraine World leaders linked to 'Panama Papers' Ayad Allawi Allawi Iraq’s Vice-President between 2014 and 2015, and the country’s interim prime minister from 2004 to 2005 World leaders linked to 'Panama Papers' Salman bin Abdulaziz bin Abdulrahman Al Saud King of Saudi Arabia World leaders linked to 'Panama Papers' Sheikh Khalifa bin Zayed bin Sultan Al Nahyan President of the United Arab Emirates, Emir of Abu Dhabi World leaders linked to 'Panama Papers' Sigmundur Davíð Gunnlaugsson Prime Minister of Iceland World leaders linked to 'Panama Papers' Sergey Roldugin Close friend of Vladimir Putin World leaders linked to 'Panama Papers' Sheikh Hamad bin Khalifa Al Thani Emir of Qatar 1995-2013 World leaders linked to 'Panama Papers' Li Xiaolin Daughter of Li Peng, the former Premier of China (The current vice-president of state-owned power company China Datang Gorporation and former CEO of China Power International Development, she has been nicknamed China’s “Power Queen” World leaders linked to 'Panama Papers' Rami Makhlouf Cousin of Bashar Assad, the President of Syria World leaders linked to 'Panama Papers' Hafez Makhlouf Cousin of Bashar Assad, the President of Syria World leaders linked to 'Panama Papers' Clive Khulubuse Zuma Nephew of Jacob Zuma, President of South Africa World leaders linked to 'Panama Papers' Maryam Nawaz Sharif Safdar Daughter of Nawaz Sharif, prime minister of Pakistan World leaders linked to 'Panama Papers' Hasan Nawaz Sharif Son of Nawaz Sharif, prime minister of Pakistan World leaders linked to 'Panama Papers' Hussain Nawaz Sharif Son of Nawaz Sharif, prime minister of Pakistan World leaders linked to 'Panama Papers' Alaa Mubarak The eldest son of ousted former Egyptian President Hosni Mubarak Read more here

The Russians were among hundreds of individuals named in more than 11 million files leaked from Mossack Fonseca, a Panama-based law firm.

There is no suggestion that the firm, or any of the banks and clients linked to it, committed or assisted others in any wrongdoing.

But the documents have triggered investigations by tax authorities around the world, as well as controversy for politicians including the Prime Minister of Iceland, who was revealed as the buyer of an offshore company.

HM Revenue and customs said it had asked to view the Panama Papers and would act on any information ”swiftly and appropriately“ as the Government continues to crack down on tax evasion.