At first sight the Aharonov- Bohm effect appears nonlocal, though not in the way EPR/Bell correlations are generally acknowledged to be nonlocal. This paper applies an analysis of nonlocality to the Aharonov- Bohm effect to show that its peculiarities may be blamed either on a failure of a principle of local action or on a failure of a principle of separability. Different interpretations of quantum mechanics disagree on how blame should be allocated. The parallel between the Aharonov- Bohm effect and (...) violations of Bell inequalities turns out to be so close that a balanced assessment of the nature and significance of quantum nonlocality requires a detailed study of both effects. (shrink)