Iran is reportedly prepared to accept cryptocurrencies, including bitcoin, as payment for weapons exports, marking one of the first known cases of a nation-state openly using digital assets for military sales, the Financial Times reported, citing promotional documents and payment terms from Iran’s Ministry of Defense Export Center, known as Mindex. Payments can also be made in Iranian rials or through barter arrangements.
The move comes after Britain, France, and Germany triggered a UN mechanism in August to reimpose sanctions on Tehran, following the collapse of diplomatic efforts to revive negotiations over Iran’s nuclear program with the United States. The sanctions target Iran’s nuclear and missile programs, oil sector, and access to international banking, prompting the country to increasingly rely on barter trade and cryptocurrencies to maintain international commerce.
Mindex, which says it has clients in 35 countries, markets a broad range of weapons, including ballistic missiles, drones, warships, short-range air defense systems, small arms, rockets, and anti-ship cruise missiles. Its multilingual website features an online portal and virtual chatbot to guide prospective buyers through the purchasing process, assuring that “there is no problem” fulfilling contracts despite sanctions.
According to the Stockholm Institute for Peace Research, Iran ranked 18th globally for major arms exports in 2024, behind countries including Norway and Australia. U.S. authorities have previously accused Iran of using digital assets to facilitate oil sales and move funds outside formal banking channels. In September, the U.S. Treasury sanctioned individuals allegedly operating a “shadow banking” network that processed payments for Iran using cryptocurrencies.
