Kuznetsov told Russian media outlet Sport Express that the video was filmed last summer in Las Vegas after the Capitals won the Stanley Cup. He said the powdery substance didn't belong to him and he left the room as soon as possible after noticing his surroundings, which included "unfamiliar women."
"I just went to my friends in the room. When I saw what was happening there -- unfamiliar women, strange substances on the table -- [I] called a friend and left there as soon as possible," he said.
"I do not always have something to do with what is happening next to me. I have never used drugs and I am not going to get involved in this. ... I have nothing to hide, let it remain on the conscience of the one who posted this video."
Kuznetsov added that he was ready to undergo a drug test or medical examination to prove his innocence.
The Capitals released a statement after the video emerged that read: "We are aware of the video that surfaced on social media of Evgeny Kuznetsov. We are currently in the process of gathering facts and will have no further comment at this time."
Kuznetsov, 28, finished playing for Team Russia in the World Hockey Championships in Slovakia. He recorded six points (two goals, four assists) in 10 games as the Russians won the bronze medal at the event.
Kuznetsov had 21 goals and 51 assists for the Capitals this season. Washington lost in the first round against the Carolina Hurricanes in seven games.