President Donald Trump is recasting the U.S. strategy on Iran around economic coercion, arguing that Tehran is close to financial collapse after months of war and could be forced to end its nuclear program and fully reopen the Strait of Hormuz. The shift comes as negotiations have again stalled and U.S. stockpiles of key weapons have diminished. Trump said Monday that if Iran seeks compensation in peace talks, he intends to demand compensation for the United States as well. The administration has paired military action with what it calls Operation Economic Fury, launched on April 16, using sanctions and a naval blockade to cut Iran's oil trade and pressure countries and banks that do business with it. Treasury Secretary Scott Bessent described that effort as the financial equivalent of a bombing campaign. Trump told reporters Iran is "broke" and said it is not paying its soldiers, while citing 300% inflation. Iran's reported inflation is high, though that figure was above estimates administration officials had been citing. The economic case is central because the war has also raised costs outside Iran. Crude prices rose Monday as investors took Trump's comments as a sign that fewer ships may cross the Strait of Hormuz, a vital energy chokepoint that handled roughly 20% of global oil supplies before the conflict. Iran has used the waterway as leverage in negotiations, and efforts to reopen it have been brief. Iran publicly dismissed the prospect of added sanctions. Foreign Ministry spokesman Esmail Baghaei said Washington turns to sanctions when diplomacy fails and warned that doing so could damage any remaining chance of a less humiliating U.S. exit from the crisis. Analysts cited in the report said sanctions can create leverage, especially by threatening third countries that trade with Iran, but they typically work more slowly than battlefield measures and depend on clear strategic goals. The International Monetary Fund estimates Iran's economy will shrink 5.4%, while the Iranian government recently reported annual inflation of 88.6%. The U.S. Treasury Department said average Iranian oil loadings have fallen from 1.8 million barrels per day before the war to less than 500,000 barrels per day over the past month.