The action against 8 companies and 3 individuals was taken on Tuesday. According to the Swiss Cabinet, this action aligns the Swiss government with the protective measures adopted by the European Union in January. The objective of this action is to demotivate Iran with its controversial nuclear program and to meet up with the demands set up by the UN.

The Swiss government did not identify the targeted companies and the individuals.

According to the Swiss government, the Iranian Central Bank had been left out of the EU measures because of the Bank's importance to the Iranian economy.

The Swiss government have previously frozen Iranian accounts in Switzerland because of U.N. sanctions imposed on Iran over its nuclear program. Accusations have always been thrown upon Swiss banks because of business carried out by the Iranian government through Swiss accounts and the Swiss banks allowing it openly.

Iran's denials of military intent for its uranium enrichment have failed to convince EU and U.S. officials. Iran has been insisting that its excessive use of uranium is because of electricity production and the country is not following a nuclear program. The country has several nuclear sites where work is carried out on enriching facilities and building a heavy water reactor.

Iran has been less rigid of late and have showed a positive intent by  holding talks with the world powers last week over its controversial nuclear program. The talks will continue and a second round may take place next month in Baghdad.