A spokesman for Russian President Vladimir Putin on Wednesday dismissed claims that Russian intelligence agencies have obtained compromising material about U.S. President-elect Donald Trump as "complete fabrication and utter nonsense."

"This is an evident attempt to harm our bilateral ties ... the Kremlin does not engage in collecting compromising information," Kremlin spokesman Dmitry Peskov told reporters in Moscow.

"We should treat it with humor, but there is a sad side to it, too ... there are people who are whipping up this frenzy, who are doing their best to keep this witch hunt going," he added.

Reacting to the news regarding the report, Trump tweeted: "FAKE NEWS - A TOTAL POLITICAL WITCH HUNT!"

The unsubstantiated allegations that suggested Russia has compromising information began surfacing on Tuesday afternoon through CNN reports that said the information was sourced through unsubstantiated memos curated by a former British intelligence operative. Although the reports had been in circulation for some time, U.S. spy agencies only recently dubbed them as “credible.”

CNN also suggested that last month Sen. John McCain sent a full set of the memos to FBI Director James Comey.

Curiously, without complete verification, top intelligence officials have also briefed President Barack Obama, the top leaders of the House and Senate, and the chair and ranking member of the House and Senate Intelligence Committees about the information through the memos, according to the New York Times.

Following these developments, BuzzFeed published the dossier that included claims that Russia’s Federal Security Service, or FSB, (KGB’s successor) believed it had “compromised Trump through his activities in Moscow sufficiently to be able to blackmail him.”

More specifically, the dossier alleges that Russia had information that Trump engaged in “perverted sexual acts which have been arranged/monitored by the FSB.” Trump reportedly enjoyed watching prostitutes perform "golden showers" — a sex act involving urine, where one or more sexual partners urinates on a person — in the presidential suite of the Ritz-Carlton hotel in Moscow where Obama and his wife, Michelle, had stayed during an official trip to Russia.