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Stephen Buyer, a former Republican representative from Indiana, was convicted of trading stock related to two deals before they were made public.
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The exchange of strikes comes as the Trump administration ramps up pressure on Iran to make a deal to end the conflict.
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Across the Middle East, three separate ceasefire deals are currently in effect.
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The U.S. and Iran have yet to reach a peace deal or address Iran's nuclear ambitions, despite signals from Trump that talks are progressing.
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