NEW YORK // US intelligence officials presented Donald Trump with claims that Russian operatives have damaging information about the President-elect's financial affairs and personal life, reported a number of US news organisations.
The media reports suggested details of the claims were included in a dossier given to Mr Trump during an intelligence briefing last week.
Russia denied those claims on Wednesday, saying they were a "total fake" and an attempt to harm Moscow's relations with Washington.
The FBI is still investigating the credibility of the allegations but their emergence is the latest example of the deep concerns surrounding the President-elect, and his ties to Russia, as he prepares to be sworn in next week.
The new information alleged contacts between members of the Trump campaign and Moscow. It would be deeply embarrassing if Russian agents have managed to obtain compromising information.
Mr Trump's transition team has not responded to requests for comment but Mr Trump took to Twitter to dismiss the reports: "FAKE NEWS - A TOTAL POLITICAL WITCH HUNT!"
Meanwhile, Barack Obama made his final speech as president in Chicago on Tuesday evening.
Although it was billed as his farewell to the American people it more closely resembled a lesson in democracy as he exhorted the public to come together, to listen to each other and to defend hard-won rights.
"The work of democracy has always been hard, it's always been contentious and it's sometimes been bloody," he said. "For every two steps forward, it often feels we take one step back. But the long sweep of America has been defined by forward motion, a constant widening of our founding creed to embrace all, and not just some."
The country's first black president was elected eight years ago in an election dominated by optimism and hope. But Mr Obama admitted that ideas of a post-racial America were not realistic.
Still, with the country preparing for Mr Trump, many in the audience chanted "four more years".
"I can't do that," responded Mr Obama, who dabbed at his eyes as he paid tribute to his wife, children and supporters.
He praised the forthcoming transfer of power as a "hallmark" of American democracy but at the same time gave voice to many people's fears about the incoming administration. He outlined threats facing the country from economic inequality, racial divisions and the growing political stratification as people retreated into their own protected thought bubbles.
As he bid farewell in the city where he declared victory over John McCain in 2008, he left supporters with one final demand.
"I am asking you to believe," he said. "Not in my ability to bring about change - but in yours."
Mr Trump is due to hold a news conference at Trump Tower in New York on Wednesday. He had been expected to discuss how he would manage his business affairs once he became president but is now certain to face questions about whether he has been compromised by Russian agents.
The dossier on Mr Trump was compiled by a former British intelligence operative - first working for Republican opponents of the property developer and then for Democrats, according to CNN.
A two-page summary was reportedly added to a report given to Mr Trump last week when he was briefed on evidence that Russia had interfered in the US election.
None of the details have been verified but American officials said the operative had produced credible intelligence in the past.
foreign.desk@thenational.ae
