(VOVworld) - Panama warned France on Tuesday of unspecified "diplomatic measures" if it doesn't drop it from a blacklist of tax havens in the wake of the Panama Papers revelations.

President of Panama Juan Carlos Varela. (Photo by: Reuters)

Paris last week put Panama back on its national list of Uncooperative States and Territories (ETNC), from which it had been removed in 2012. France is also urging all member states of the Organization for Economic Cooperation and Development (OECD) to follow suit. The Panama Papers has had repercussions around the world, leading to the investigations in multiple countries. Documents leaked from the law firm Mossack Fonseca prove that the firm helped wealthy powerful people and leaders worldwide stash their assets in offshore companies.