MOSCOW (Sputnik) — Five major European countries urged the G20 to establish a list of shell companies' owners, which would allow to impose sanctions on states where the companies belong, France's Finance Minister Michel Sapin said.
"We want the lists that allow imposing sanctions against the countries that do not respect the rules," Sapin told reporters on Thursday during the presentation of the letter, as quoted by Le Figaro.
The five ministers are also planning to launch an initiative on exchange of information on the shell companies.
Mossack Fonseca responded to the leak by refusing to validate the information and accused reporters of gaining unauthorized access to its proprietary documents. It warned that the move was a crime that it would not hesitate to punish by legal means.