Energy Minister Konrad Mizzi has again refused to explain attempts to open up bank accounts in Panama and Dubai for his company in Panama.

The Panama Papers published by the International Consortium of Investigative Journalists showed that Mossack Fonseca’s local franchise tried to open up the bank accounts on Dr Mizzi’s behalf.

The Australian Financial Review revealed that these attempts failed when Mossack Fonseca were made aware that Dr Mizzi is a politically exposed person.

According to the Australian Financial Review, Mossack Fonseca in Panama expressed their concern about the potential corruption and money laundering risks given Dr Mizzi's position.

Video: Mark Zammit Cordina

Questioned today, Dr Mizzi again refused to explain the attempts to open the account.

“I have already given my explanation, I have issued a statement,” Dr Mizzi said.

The Energy Minister also hit out at Times of Malta for publishing a “fabricated story” last Monday which was titled “Investor in Mizzi firm linked to corruption”.

Dr Mizzi has sued for libel and the matter will be subject to court proceedings.

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