Iran reportedly offers weapons for cryptocurrency as it looks to bypass Western sanctions
Iran is reportedly offering to sell advanced weapons—including ballistic missiles, drones, and warships—to foreign governments in exchange for cryptocurrency. The move comes as Tehran seeks alternative payment methods that could skirt Western financial controls, according to the Financial Times.
The deals are being pitched by Iran’s Ministry of Defence Export Center, known as Mindex. The centre reportedly accepts digital currencies, as well as barter arrangements and payments in Iranian rials. This appears to be one of the first known instances of a nation openly signalling it will accept cryptocurrency for strategic military exports.
Weapons linked to Iran-backed groups
Mindex claims it has clients in 35 countries and markets a catalogue of weaponry including Emad ballistic missiles, Shahed drones, Shahid Soleimani-class warships, and short-range air defence systems. Its website also lists small arms, rockets, and anti-ship cruise missiles, some of which Western governments and UN reports have linked to Iran-backed militant groups in the Middle East.
The site notes that buyers must agree to conditions on how weapons would be used “during a war with another country,” though these terms are said to be negotiable.
Mindex also offers an online portal and a virtual chatbot to guide prospective buyers, including addressing questions about sanctions in an FAQ section.
Cryptocurrency as a workaround
The site does not list prices, but mentions that payments can be arranged in the buyer’s country, and in-person inspections in Iran are possible with security approval. Analysts say the timing is notable: cryptocurrency has increasingly become a tool for sanctioned actors to continue trading, even as US and European authorities crack down on networks attempting to bypass formal banking systems.
In September 2025, the US Treasury imposed sanctions on a financial network alleged to support Iran’s military, citing the use of shadow banking structures that can involve crypto-linked schemes and overseas fronts.
Shifts in the global arms trade
The move comes as the global weapons market undergoes significant change. Russia’s arms exports have slumped in recent years, creating opportunities for other suppliers. Between 2015–2019 and 2020–2024, Russia’s exports fell by 64%, according to SIPRI. Iran, meanwhile, ranked 18th in the world for major arms exports in 2024. Analysts note that reduced Russian capacity is opening space for other players.
The Atlantic Council argued in 2024 that Iran could replace Russia as a leading arms exporter, warning that Washington needs a clear strategy to counter this trend.
While cryptocurrency could make transactions easier for Iran, analysts stress that the risks remain high. Anyone using conventional financial channels to pay Iran faces potential sanctions that could restrict access to Western-linked banking and trade services.
