Iran is reportedly considering accepting cryptocurrency payments for arms sales in an effort to circumvent Western sanctions.
According to the Financial Times, Mindex, the Export Center affiliated with the Iranian Ministry of Defense, announced that they are open to payment via digital assets for the sale of ballistic missiles, warships, and other advanced weapons systems.
Mindex officials reportedly stated that they are ready to negotiate cryptocurrencies, as well as barter methods and payment options using the Iranian rial, in military contracts.
The report highlighted that this practice first came up in 2025 and is one of the rare instances where a state publicly declared its willingness to accept cryptocurrency in arms exports.
Mindex, a state-owned defense export agency, reportedly has customer relationships with approximately 35 countries and showcases various military products such as missiles, rockets, ammunition, and hovercraft on its official website.
Iran has long faced heavy sanctions from Western countries, primarily the United States, the United Kingdom, and the European Union. These sanctions target the country’s nuclear and missile programs, its energy sector, and its access to the international banking system.
Therefore, it is noted that the Tehran administration is increasingly turning to alternative payment methods such as barter trade and crypto assets. Last month, the US added 29 “shadow fleet” ships to its sanctions list on the grounds that they were secretly supporting Iran’s oil exports.
Mindex, on its website, stated that “there are no problems in the implementation of the contracts within the framework of the Islamic Republic of Iran’s general policies to circumvent sanctions,” and argued that the purchased products would be delivered as soon as possible.
The US Treasury Department had previously announced that it had identified two Iranians who facilitated over $100 million in cryptocurrency transactions to finance Iranian government oil sales between 2023 and 2025. Such activities are considered by Washington to be part of Iran’s extensive “shadow finance network.”
*This is not investment advice.
