Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

A newspaper in Tehran on July 31, 2018. Iran's currency lost nearly two-thirds of its value since the start of the year as U.S. sanctions loomed. Photo: Atta Kenare/AFP via Getty Images

On Tuesday, the first tranche of U.S. sanctions against Iran lifted by the 2015 nuclear deal will snap back into place — a result of President Trump's withdrawal from the deal that comes in spite of Iran’s continued compliance. The re-imposed penalties will restrict foreign investment in Iran’s automotive sector and Iran’s purchases of dollars and precious metals.

The big picture: The Trump administration hopes the sanctions will curb Iran’s "malign" activities in the Middle East, but there's little likelihood of that result, especially since Assad has “won” in Syria, and Iran’s regional rival, Saudi Arabia, remains bogged down in Yemen. Although widespread protests have erupted in Iran since late last year, there are no assurances that Iranians will overthrow their government and replace it with one more attractive to Washington and its allies.

In a background briefing for reporters on Monday, a senior Trump administration official boasted that, because of sanctions, the Iranian currency "is tanking, unemployment in Iran is rising, and there are widespread protests over social issues and labor unrest." At the same time, the administration refused to take responsibility for the humanitarian damage its policies have caused, placing the blame on Iran’s government.

Officials also continued to claim that the U.S. is leading a “coalition” against the Islamic Republic, even as European allies were decrying U.S. actions and vowing to maintain the deal despite U.S. sabotage.

The main beneficiary of the U.S.' Iran reversal is China, which became Iran's top trading partner more than a decade ago. Beijing has already told the Trump administration that it will not reduce Iranian oil imports after the slated return of oil sanctions on November 4. Turkey, India, Russia and some small and medium-sized European companies have also said they will continue to trade with Iran.

The bottom line: President Trump, who has offered to meet with Iran’s leaders, seems to think he can produce a better deal than the one that hundreds of diplomats and scientists from seven countries worked for years to accomplish. But Iran is unlikely to bow to U.S. demands and is not interested in a photo-op summit. Iranians will suffer, but the U.S. is unlikely to benefit.

Barbara Slavin directs the Future of Iran Initiative at the Atlantic Council.

Go deeper

Scoop: Gina Haspel almost resigned over plan to install Kash Patel as CIA deputy

Photo: Win McNamee/Getty Images

CIA Director Gina Haspel almost resigned in early December after President Trump cooked up a hasty plan to install loyalist Kash Patel, a former aide to Rep. Devin Nunes (R-Calif.), as her deputy, according to three senior administration officials with direct knowledge of the matter.

Why it matters: The revelations stunned national security officials and almost blew up the leadership of the world's most powerful spy agency. Only a series of coincidences — and last minute interventions from Vice President Mike Pence and White House Counsel Pat Cipollone — stopped it.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden says, "We will manage the hell out of" vaccine distribution — Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan — Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.

NRA declares bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for Chapter 11 bankruptcy and will seek to reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment."

The big picture: The move comes just months after New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.