The Swiss government said in a statement that it had ordered all Iraqi funds in Switzerland to be declared.

A freeze on transfers to Iraq implemented for more than 12 years under the UN ban on trade had been aimed at stopping money flowing back to President Saddam Hussein's regime in Iraq, Swiss officials said.

But banks, accountants and lawyers were not obliged to declare accounts they held.

The United States asked Switzerland to block all Iraqi assets on March 21.

Swiss officials said they now wanted to ensure that any Iraqi assets could be made available to a future legitimate government in Iraq once the UN decides to change the sanctions regime.

A Swiss Foreign Ministry official, Louis Michel, said the move was designed to build a "clearer picture" of what might be held in Switzerland.

No Iraqi government funds had been declared under the previous sanctions regime, according to the Swiss government.

SPACE.WIRE