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Iran's Supreme Leader Ayatollah Khamenei. Photo: Iranian Leader's Press Office - Handout/Anadolu Agency/Getty Images

President Trump on Monday announced that the U.S. would impose a new set of sanctions targeting top officials in the Iranian government and their access to the international financial system, including Supreme Leader Ayatollah Ali Khamenei.

"We do not seek conflict with Iran or any other country. ... I can only tell you we cannot ever let Iran have a nuclear weapon."

The big picture: Escalating tensions with Iran in recent weeks led Trump to sign off and then cancel a military strike on Thursday evening, calling it a disproportionate response to Iran's downing of an unmanned U.S. drone. The new sanctions are yet another addendum to the "maximum pressure" campaign that the Trump administration has undertaken in the wake of the president's withdrawal from the 2015 Iran nuclear deal.

  • Treasury Secretary Steven Mnuchin told reporters on Monday that the U.S. will impose sanctions on Iranian Foreign Minister Mohammad Javad Zarif later this week.
  • Mnuchin also said that he could not comment on whether military action against Iran is off the table.

Go deeper: Timeline: How Trump and Tehran came to the brink of war

Go deeper

2020 was the economy's worst year since 1946

Source: FRED; Chart: Axios Visuals

The U.S. economy grew at a 4% annualized pace in the last quarter of 2020, meaning the economy shrank by 3.5% for the full year, the government said on Thursday.

Why it matters: One of the last major economic report cards of the Trump era shows a sharp slowdown in growth compared to the previous quarter, as the pandemic got worse and government aid petered out. It was the worst year for the economy since 1946 and the first time GDP shrank since 2009, when it fell 2.5% during the Great Recession.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

Caitlin Owens, author of Vitals
2 hours ago - Health

Who benefits from Biden's move to reopen ACA enrollment

Photo: Chip Somodevilla/Getty Images

Nearly 15 million Americans who are currently uninsured are eligible for coverage on the Affordable Care Act marketplaces, and more than half of them would qualify for subsidies, according to a new Kaiser Family Foundation brief.

Why it matters: President Biden is expected to announce today that he'll be reopening the marketplaces for a special enrollment period from Feb. 15 to May 15, but getting a significant number of people to sign up for coverage will likely require targeted outreach.