Meryl Streep stands for applause at the Oscars on Sunday, Feb. 26, 2017, at the Dolby Theatre in Los Angeles. (Photo by Chris Pizzello/Invision/AP)

Meryl Streep has blasted Karl Lagerfeld for ruining the 2017 Oscars for her.

The 67-year-old actress has been nominated for an Academy Award for the 20th time at Sunday's February 26 ceremony but accused the outspoken Chanel designer of tainting the occasion with his accusation that she ditched him as her dress designer in favour of someone who was going to pay her for wearing their creation.

She said in a statement to Us Weekly: "Karl Lagerfeld, a prominent designer, defamed me, my stylist, and the illustrious designer whose dress I chose to wear, in an important industry publication.

"That publication printed this defamation, unchecked. Subsequently, the story was picked up globally, and continues globally, to overwhelm my appearance at the Oscars, on the occasion of my record-breaking 20th nomination, and to eclipse this honour in the eyes of the media, my colleagues and the audience."

The 'Florence Foster Jenkins' star's statement came after Karl apologised for having "misunderstood" the situation when he spoke out to Women's Wear Daily.

He said in a statement: "Chanel engaged in conversations with Ms. Streep's stylist, on her request, to design a dress for her to wear to the Academy Awards.

"After an informal conversation, I misunderstood that Ms. Streep may have chosen another designer due to remuneration, which Ms. Streep's team has confirmed is not the case. I regret this controversy and wish Ms. Streep well with her 20th Academy Award nomination."

However, the screen legend didn't feel his response was adequate.

She added in her statement: "Mr. Lagerfeld's generic 'statement' of regret for this 'controversy' was not an apology."

Meryl's stylist, Micaela Erlanger, previously insisted the actress would never go against her "personal ethics" by accepting money for wearing a dress.

She said: "As a stylist working with a nominee for any major event, it's industry standard for designers to propose gown ideas and sketches – some custom, some not, depending on the occasion.

"In the case of Chanel's submission, which was presented with full knowledge that Ms. Streep and I – her stylist – were having conversations with various brands, we were shown sketches of a dress from their most recent couture collection. Although [it was] an exquisite gown from the existing collection, we decided to go in a different direction, with another designer.

"At no point were there any conversations regarding monetary compensation. Nor were any other brands considered based on their willingness to pay for placement. This is not how my company operates and is very much a practice in conflict with Ms. Streep's personal ethics."

Karl previously claimed Chanel was told not to continue with the dress because Meryl had "found somebody who will pay".

He said: "I made a sketch, and we started to make the dress (but then I get a phone call from her team a few days later which said): 'Don't continue the dress. We found somebody who will pay us.' After we gift her a dress that's 100,000 euros, we found later we had to pay [for her to wear it]. We give them dresses, we make the dresses, but we don't pay."

Bang Showbiz