Iran opens door to crypto payments for weapons sales

Iran’s Ministry of Defence Export Center, known as Mindex, has updated its website to state that buyers may pay for military equipment using “the cryptocurrency agreed upon in the contract.”

The move is seen as part of Iran’s broader efforts to work around international sanctions that have restricted its access to global financial systems.

Products marketed through Mindex include rockets, aircraft, tanks, boats, firearms, ammunition and communications equipment.

Iran has been accused of supplying weapons to Russia and to groups designated as terrorist organisations by the United States, including Hezbollah and the Houthis.

Security analysts have questioned whether the Mindex site is capable of facilitating real crypto transactions for arms sales.

I wouldn’t agree with any claim that a heavily sanctioned nation-state is openly marketing ballistic missiles, drones and warships through a public website.

Ari Redbord said.

Redbord noted that the site lacks prices, checkout functions, wallet addresses or blockchain infrastructure, suggesting it is not a true e-commerce platform.

Cryptocurrency does appear on the site, but only as one possible settlement option framed as ‘as agreed in the contract.

Redbord said.

Analysts argue that while crypto can offer alternative payment rails, it can also make illicit financial flows easier for authorities to trace.

Given the sanctions in Iran, cryptocurrency has become an alternative payment rail to facilitate cross-border trade.

Andrew Fierman said.