Iran is looking at the possibility of using cryptocurrencies to sell weapons to foreign parties. The Financial Times reports this. It would be an alternative payment method for international transactions, something that has rarely occurred in the global arms trade.
The initiative comes from Mindex, the export center of the Iranian Ministry of Defense. This state-owned company is responsible for the country’s official arms exports and plays a central role in Iran’s defense-related trade with foreign countries.
Focus on advanced military systems
According to the message, the use of cryptocurrencies would mainly apply to the export of advanced military systems. This includes ballistic missiles, naval ships and other high-value defense equipment.
Mindex has indicated that it is willing to settle contracts in digital currencies. In addition, the agency is also open to barter and payments in Iranian rials. Iran therefore appears to be consciously looking for alternatives to the traditional international banking system.
Deviation from traditional payment structures
The proposed payment framework would be first introduced in 2025, according to the Financial Times. Although cryptocurrencies are increasingly used in international trade, their use in arms sales is very unusual.
Analysts see the plan as a rare public signal from a government that wants to link digital currencies directly to military exports. This underlines how exceptional Iran’s move is seen within the global defense sector.
International presence of Mindex
Mindex operates as a state-owned company and, according to its own information, has trading relationships with customers in approximately 35 countries. This gives the agency a broad international presence.
Mindex’s official website presents an extensive range of products, including missile systems, ammunition and specialized military ships. This portfolio shows that Iran explicitly wants to position itself as an exporter of defense equipment.
Sanctions force Iran to find alternatives
The possible use of cryptocurrencies comes against the backdrop of long-term international sanctions. The United States, the United Kingdom and the European Union have imposed measures against, among other things, Iran’s missile program, oil exports and access to the global financial system.
These restrictions have largely closed off traditional payment channels for Iran. As a result, the country is increasingly relying on alternative forms of trading, such as barter and digital currencies such as Bitcoin.
Tightened enforcement by the US
At the same time, enforcement of sanctions will be further stepped up. Last month, US authorities announced sanctions on 29 ships accused of facilitating secret Iranian oil shipments.
According to US officials, these ships were part of a so-called shadow fleet intended to circumvent international restrictions on Iranian oil exports.
Iran downplays impact of sanctions
Despite mounting pressure, Mindex publicly minimizes the impact of sanctions on arms contracts. The agency’s website states that agreements can still be executed without major problems.
These statements suggest that Iran sees room within its own policy framework to continue deliveries, despite the international restrictions that are officially in force.
Longer history with cryptocurrencies
The use of cryptocurrencies is not new for Iran. The country has been using digital currencies for years to reduce its dependence on traditional financial systems.
For example, the US Treasury previously announced that two Iranian nationals were allegedly involved in more than $100 million in crypto transactions linked to oil sales between 2023 and 2025. These money flows were described as part of a broader financial shadow network that supports the Iranian state.
Digital currencies increasingly important for Iran
Recent developments demonstrate how Iran continues to adapt its economic and trade strategies to international pressures. As sanctions persist and are further tightened, the importance of alternative payment methods increases.
Digital currencies appear to be playing an increasingly central role in enabling international transactions for Iran, both within the energy sector and possibly also in the export of defense equipment.
Source: https://newsbit.nl/iran-onderzoekt-cryptovaluta-als-betaalmiddel-voor-wapenexport/
