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Boris Johnson, Angela Merkel and Emmanuel Macron in August. Photo: Andrew Parsons/Pool/Getty Images

The leaders of the U.K., Germany and France said in a Tuesday letter that they are triggering a "dispute mechanism" in the Iran nuclear agreement in response to Tehran’s attempts to undo parts of the deal, the AP reports.

Why it matters: The action could lead to the restoration of European sanctions on Iran that were rolled back in 2015.

What they're saying: The countries said they’ve been "left with no choice, given Iran’s actions, but to register today our concerns that Iran is not meeting its commitments."

  • German Foreign Minister Heiko Maas said the three European countries "could no longer leave the growing Iranian violations of the nuclear agreement unanswered. Our goal is clear: we want to preserve the accord and come to a diplomatic solution within the agreement."

Context: After the U.S. killed Iranian general Qasem Soleimani in an airstrike, Iran said that it would no longer respect limits in the agreement on how many centrifuges it can use to enrich uranium.

What's next: Under the deal, ministers now have two weeks to resolve disputes. The period can be extended if all sides agree.

Go deeper:

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Netflix tops 200 million global subscribers

Illustration: Rebecca Zisser/Axios

Netflix said that it added another 8.5 million global subscribers last quarter, bringing its total number of paid subscribers globally to more than 200 million.

The big picture: Positive fourth-quarter results show Netflix's resiliency, despite increased competition and pandemic-related production headwinds.

Janet Yellen plays down debt, tax hike concerns in confirmation hearing

Treasury Secretary nominee Janet Yellen at an event in December. Photo: Alex Wong via Getty Images

Janet Yellen, Biden's pick to lead the Treasury Department, pushed back against two key concerns from Republican senators at her confirmation hearing on Tuesday: the country's debt and the incoming administration's plans to eventually raise taxes.

Driving the news: Yellen — who's expected to win confirmation — said spending big now will prevent the U.S. from having to dig out of a deeper hole later. She also said the Biden administration's priority right now is coronavirus relief, not raising taxes.

Trump gives farewell address: "We did what we came here to do"

Photo: Mandel Ngan/AFP via Getty Images

President Trump gave a farewell video address on Tuesday, saying that his administration "did what we came here to do — and so much more."

Why it matters, via Axios' Alayna Treene: The address is very different from the Trump we've seen in his final weeks as president — one who has refused to accept his loss, who peddled conspiracy theories that fueled the attack on the Capitol, and who is boycotting his successor's inauguration.