Venezuela President Nicolas Maduro said on Monday that Citibank planned to shut his government's foreign currency accounts within a month, denouncing the move by one of its main foreign financial intermediaries as part of a "blockade."

Citibank said the decision was taken after a periodic risk management review.

Due to strict currency controls in place since 2003, the Venezuelan government relies on Citibank for foreign currency transactions.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)