South Asia Center Nonresident Senior Fellow Barbara Slavin writes for Al-Monitor on the potential direct banking channel between a US and an Iranian financial institution:
As nuclear talks enter a crucial period ahead of the Nov. 24 deadline, one of the incentives the Barack Obama administration is dangling before Iran is a direct banking channel between a US and an Iranian financial institution, Al-Monitor has learned.
A former US diplomat familiar with the negotiations told Al-Monitor on condition that he not be named that such a proposal is on the table in talks between Iran and the five permanent members of the UN Security Council plus Germany (P5+1). An Iranian negotiator did not respond to a request for comment.
A Treasury Department spokesperson also declined comment. However, Tyler Cullis, a legal fellow and policy associate at the National Iranian American Council (NIAC) told Al-Monitor, “We’ve heard indications that the idea is being considered.”