The U.S. ramped up Iran oil sanctions on two fronts Thursday. Treasury blacklisted Iraq’s Deputy Oil Minister and three Iran-backed militia leaders, while ABC News reported DOJ and CFTC probes into roughly $2.6 billion in suspiciously timed oil trades.

Both threads belong to Operation Economic Fury, the campaign squeezing Tehran’s revenue. OFAC’s targets allegedly funneled Iraqi crude to Iran, while regulators are examining whether traders profited on advance knowledge of p