We develop a Luttinger-liquid theory of the Coulomb drag of persistent
currents flowing in concentric mesoscopic rings by incorporating nonl
inear corrections to the electron dispersion relation. We demonstrate
that at low temperatures, interactions between electrons in different
rings generate an additional phase and thus alter the period of Aharon
ov-Bohm oscillations. The resulting nondissipative drag depends strong
ly on the relative parity of the electron numbers. We also show that i
nteractions set a new temperature scale below which the linear respons
e theory does not apply at certain values of external flux.