Iran’s state-run arms exporter is offering to sell advanced weaponry for cryptocurrencies like Bitcoin, according to a Financial Times investigation, marking a significant turn in the use of digital assets to circumvent international sanctions.
Documents from Iran’s Ministry of Defense Export Center (Mindex) and an analysis of its payment terms reveal the country is prepared to negotiate military contracts settled in digital currencies. The center also accepts barter deals and Iranian rials. This public offer is believed to be one of the first from a nation-state to explicitly seek crypto for arms exports.
The move comes as Tehran faces extensive sanctions targeting its nuclear program, oil sector, and access to global banking. With traditional financial channels blocked, Iran has increasingly turned to alternative methods, including barter trade and digital assets, to finance its trade.
Mindex, which claims clients in 35 countries, markets a wide array of weapons on its multilingual website—from ballistic missiles and drones to small arms and air defense systems. Its online portal includes a chatbot to guide potential buyers, asserting “there is no problem” in fulfilling contracts despite sanctions.
The U.S. has repeatedly accused Iran of using cryptocurrency to facilitate oil sales and move funds. In September, the Treasury sanctioned individuals for operating a “shadow banking” network that processed crypto payments for Tehran.