[Hat tip to the Henry Jackson Society]
1. Britain finds itself in a unique position to place tremendous pressure on Iran to desist from its nuclear activities due to the central role that the City of London along with New York plays in the international financial system.
2. Realizing the leverage that the U.S. financial markets give Washington, the U.S. Treasury Department has in the last couple years been pressing Iran hard on the financial front.
3. The British government should complement the activities of the U.S. Treasury in actively discouraging financial institutions from conducting business with Iran. This could take the form of a joint US-UK outreach effort that would threaten to cut off from the NY and London financial markets companies that persist in their business dealings with Iran. It would be beneficial to include other European countries in this endeavor to increase the potential for desirable results.