Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

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 Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

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!

Illustration: Rawf8/Getty Images

The Trump administration plans to target a new sector of the Iranian economy with significant new sanctions this week, two senior administration officials told me, speaking anonymously because they were not authorized to reveal the new sanctions. The officials would not say what sector the administration will target, but it won't be the energy sector.

Driving the news: The administration will likely announce this new wave of sanctions on Wednesday — marking the one year anniversary of President Trump's withdrawal from the Iran nuclear deal.

The Wall Street Journal reported last week that new sanctions would target petrochemical sales. I'm told the administration will likely impose those sanctions soon, but the new sanctions planned for this week will target a different sector of the Iranian economy.

Why this matters: The Trump administration has been working to starve the Iranian regime of cash. But the administration is also trying to chill Iran's growth prospects by limiting the diversification of its economy, senior officials tell me.

Between the lines: Trump officials point to three possible outcomes of these efforts:

  • The cash-strapped Iranian regime comes back to the negotiation table to offer the U.S. a more favorable nuclear deal (no sign of this happening).
  • The regime hangs tight, but with far less money — in and of itself a good thing, in Trump's view. Iran's leaders will be forced to decide how to spend dwindling revenues, especially as flash floods and desert locusts besiege the Iranian countryside.
  • The Iran regime collapses. National security adviser John Bolton has long hoped for "the overthrow of the mullahs' regime in Tehran," though the Trump administration claims its official policy is not regime change.

The big picture: As we recently detailed, Iran's economy has been in free-fall since Trump withdrew the U.S. from the Iran nuclear deal and reimposed strict sanctions.

  • Iran's currency has plummeted, and dozens of European businesses have pulled out. The International Monetary Fund and the World Bank have issued dire forecasts for Iran's economy.
  • Iran also suffers from a fall in foreign direct investment. A senior administration official who receives updates on Iranian investment told me the country signed one foreign investment contract between January and March — "a deal with a Chinese company to build a petrochemical plant in Khuzestan."

What's next? Both officials said the regime could respond in a way that is "highly unpredictable" — diplo-speak for violent.

  • "So we are extremely mindful of security here at home," one added.

Go deeper: Trump's maximum pressure campaign hammers Iranian economy

Go deeper

Broncos and 49ers the latest NFL teams impacted by coronavirus crisis

From left, Denver Broncos quarterbacks Drew Lock, Brett Rypien and Jeff Driskel during an August training session at UCHealth Training Center in Englewood, Colorado. Photo: Justin Edmonds/Getty Images

The COVID-19 pandemic has thrown the NFL season into chaos, with all Denver Broncos quarterbacks sidelined, the San Francisco 49ers left without a home or practice ground and much of the Baltimore Ravens team unavailable, per AP.

Driving the news: The Broncos confirmed in a statement Saturday night that quarterbacks Drew Lock, Brett Rypien and Blake Bortles were identified as "high-risk COVID-19 close contacts" and will follow the NFL's mandatory five-day quarantine, making them ineligible for Sunday's game against New Orleans.

Updated 11 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: McConnell temporarily halts in-person lunches for GOP caucus.
  3. Economy: Safety nets to disappear in DecemberAmazon hires 1,400 workers a day throughout pandemic.
  4. Education: U.S. public school enrollment drops as pandemic persists.
  5. Cities: Surge in cases forces San Francisco to impose curfew — Los Angeles County issues stay-at-home order, limits gatherings.
  6. Sports: NFL bans in-person team activities Monday, Tuesday due to COVID-19 surge — NBA announces new coronavirus protocols.
  7. World: London police arrest more than 150 during anti-lockdown protests — Thailand, Philippines sign deal with AstraZeneca for vaccine.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.