Iranian officials have set out sweeping demands to their American counterparts for reopening the Strait of Hormuz. Iran says Strait of Hormuz blockade cannot be lifted through diplomacyIran said Monday that its blockade of the Strait of Hormuz cannot be lifted through diplomacy. Crude prices extended gains after Iran’s Revolutionary Guards warned Sunday that they would not reopen the strait until Washington complied with demands including compensation for war damage. We are just watching Iran with its huge inflation and the fact they have no money,” Mr. Trump told Axios during a phone interview. He said Iran is in “very bad shape” and that the U.S. blockade on the Strait of Hormuz has exacerbated the country’s economy.