Spanish minister José Manuel Soria resigns over Panama Papers

The Spanish minister of industry, energy and tourism resigned on Friday after documents in the Panama Papers linked him to offshore investments in the Bahamas, and news reports then connected him to a company in the tax haven of Jersey.

José Manuel Soria, a member of the acting government of prime minister Mariano Rajoy, is among the most high-profile figures to suffer politically since the release of the leaked papers, which identify companies and people suspected of using offshore bank accounts and shell companies to conceal their wealth or avoid taxes.

The resignation of Mr Soria, who has not been charged with wrongdoing, comes at a time of turmoil in Spanish politics, after inconclusive elections in December. It is likely that new elections will be held in late June.

– (New York Times service)