Rich by Coin

Iran has begun offering foreign governments the option to pay for advanced weapons systems using cryptocurrency. The policy aims to bypass US and European financial sanctions. According to a Jan. 1 report by the Financial Times, Iran’s Ministry of Defence Export Center, known as Mindex, has introduced payment terms that allow military contracts to be settled in digital currencies, alongside barter arrangements and Iranian rials. The policy has been in place for roughly the past year.

Mindex is a state-run body responsible for Iran’s overseas arms sales and claims to have client relationships with 35 countries. Its catalogue includes Emad ballistic missiles, Shahed drones, Shahid Soleimani-class warships, short-range air defence systems, as well as small arms, rockets, and anti-ship cruise missiles. The FT verified the authenticity of Mindex’s website using archived records, registration data, and technical analysis. The site is hosted on an Iranian domestic cloud provider that is itself under U.S. Treasury sanctions and has been described by Washington as having close ties to Iranian intelligence services.

Prospective buyers are guided through an online portal and a virtual chatbot. A frequently asked questions section directly addresses sanctions risk, stating that Iran’s policies on “circumventing sanctions” ensure contracts can be executed and goods delivered. While pricing is not publicly disclosed, the exporter offers in-person inspections in Iran, subject to security approval.

The willingness to accept cryptocurrency marks one of the first publicly known cases of a nation-state openly offering strategic military hardware in exchange for digital assets. Western officials have warned that parties using conventional finance to transact with Iran risk being cut off from U.S., EU, and U.K. financial systems. U.S. authorities have previously accused Iran of using cryptocurrencies to facilitate oil sales and move large sums outside formal banking rails. In September, the U.S. Treasury sanctioned individuals linked to Iran’s Revolutionary Guards for running a crypto-based “shadow banking” network.