Russia has denied compiling a blackmail dossier on U.S President-elect Donald Trump.

Spokesman for Russian President Vladimir Putin, Dmitry Peskov, dismissed the reports as “complete fabrication and utter nonsense.”

According to CNN, U.S Intelligence included a two page synopsis entitled ‘Kompromat’ which is Russian for compromising material when they briefed Trump on Friday.

Peskov denied claims that the Russians had compiled a dossier of Trump containing compromising material which allegedly includes him watching prostitutes carrying out degrading sex acts on the same bed that President Obama slept in when on a state visit.

He said, the Kremlin “does not engage in collecting compromising material.  There are those who pump up such a tantrum and do their best to maintain a ‘witch hunt’, and by the way this is how president-elect Trump characterised this fake.

“And why is the continuation of this hysterical state needed? To force our relationship to stay degraded.  It is a complete fake – not worth the paper it was written on.”

On Tuesday a U.S official spoke to The Associated Press stating that Trump had been informed about an unsubstantiated report that Russia had personal and financial information about him.  The official wanted to remain anonymous.

Trump, however, as dismissed the claims, tweeting, “FAKE NEWS – A TOTAL POLITICAL WITCH HUNT!”

Sputnik news agency highlighted memos that come from an unnamed British intelligence officer.  Earlier reports stated that the officer was considered a credible source.

The report read, “According to him, the Russian government has been nurturing Donald Trump as a potential president for ‘at least 5 years’, offered him lucrative business opportunities, supplied (him) with intelligence and arranged for ‘perverted sexual acts’ to be able to blackmail the president-elect.”

Sputnik warned its readers, “The fact that multiple media outlets practically simultaneously decided to publish these reports despite admitting their erroneous character is telling by itself.

“However, allegedly the FBI has been in the possession of these memos for some time too.”

Like the intelligence reporting on who hacked the Democratic Party Servers, there are few facts and plenty of speculation.