Nuclear Issues

Aaron Arnold, Associate with the Project on Managing the Atom at the Belfer Center, and Nikos Passas, Professor of Criminal Justice at Northeastern University, argue in The Bulletin of the Atomic Scientists that an important, and generally overlooked, aspect of any deal with Iran is the role of banks and financial institutions in monitoring proliferation related transactions and keeping Iran from cheating on the agreement. They point out that banks are necessary for the monitoring and verification of a nuclear agreement because they provide the information used by sanctions enforcers to track illicit proliferation financing. At this point, several holes exist in detecting proliferation financing, including the lack of a clear template for banks and regulatory agencies to be searching for, and the lack of binding regulations for all forms of financial institutions, such as money remitters. They suggest that the Iranian nuclear deal offers a chance for these systematic holes to be plugged by centralizing analysis of data for proliferation financing and seeking reforms in the Iranian financial system.

On April 2, 2015, the E.U. (speaking on behalf of the P5+1 countries) and Iran announced agreement on “key parameters” for a comprehensive agreement on Iran’s nuclear program. The E.U.-Iran Joint Statement is buttressed by unilateral facts sheets issued by the U.S. and Iran, which provide further details of the framework accord. Negotiators now turn to translating this framework accord into a final comprehensive agreement by June 30, 2015. Members of Congress and their staffs, as well as informed citizens, are now focusing on the Iranian challenge and assessing the framework accord. The Belfer Center for Science and International Affairs at the Harvard Kennedy School has prepared this Policy Brief summarizing key facts, core concepts, and major arguments for and against the current deal aimed at stopping Iran from developing nuclear weapons. The purpose of this Policy Brief is not to advocate support for or opposition to the tentative deal that has been negotiated, but rather to provide an objective, nonpartisan summary to inform Members and others in coming to their own conclusions. The team of experts who prepared this report includes Democrats, Republicans, Independents, and internationals, who have many disagreements among themselves but who agree that this Brief presents the essentials objectively.