Spain's acting Industry Minister Jose Manuel Soria says he's resigning with immediate effect after alleged links to offshore dealings that emerged after he was named in the Panama Papers.
Soria has denied all wrongdoing, but said on Friday he was stepping down to limit any damage to the caretaker government, the People's Party, following revelations of alleged links to an offshore company in the British island of Jersey.
The resignation comes at a time when Spain is facing the likelihood of a second general election in June after an inconclusive December vote.
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Acting industry minister Soria denied his involvement in an offshore company revealed by the Panama Papers after two Spanish news outlets said they had documents proving he headed an offshore firm with his brother.
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