The Council of the European Union has adopted Council Regulation (EU) No 359/201 (the Regulation), which came into force on 14 April 2011. The Regulation creates a new asset freezing regime which complements the existing EU financial sanctions in respect of Iran under Council Regulation (EU) No 961/2010 of 25 October 2010. Council Regulation (EU) No 961/2010 imposes various measures, including an asset freeze, on persons in relation to Iran's proliferation-sensitive nuclear activities.
In addition Annex I to the Regulation lists the names of those persons that were designated by the Council and are therefore subject to the freezing of funds and economic resources provisions imposed under Article 2 of the Regulation.
A copy of HM Treasury's notice is available here.