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Iran is offering to sell advanced weapons systems including ballistic missiles, drones and warships to foreign governments for cryptocurrency, in an attempt to use digital assets to bypass western financial controls.
Iran’s Ministry of Defence Export Center, known as Mindex, says it is prepared to negotiate military contracts that allow payment in digital currencies, as well as through barter arrangements and Iranian rials, according to promotional documents and payment terms analysed by the Financial Times.
The offer, introduced during the past year, appears to mark one of the first known instances in which a nation state has publicly indicated its willingness to accept cryptocurrency as payment for the export of strategic military hardware.
Mindex, a state-run body responsible for Iran’s overseas defence sales, says it has client relationships with 35 countries and advertises a catalogue of weapons that includes Emad ballistic missiles, Shahed drones, Shahid Soleimani-class warships and short-range air defence systems.
Its website, which is available in multiple languages, also lists small arms, rockets and anti-ship cruise missiles, some of which have been used by Iran-backed militant groups in the Middle East, according to western governments and UN reporting.
The FT verified the site’s authenticity using archived versions, registration data and a review of its technical infrastructure, which is hosted on an Iranian domestic cloud service under sanctions by the US Treasury, and described by Washington as having close ties to Iran’s intelligence services.
Mindex say buyers must agree to conditions about how weapons would be used “during a war with another country”, although it adds such terms are “negotiable between the contracting parties”.
The export centre operates an online portal and virtual chatbot to guide prospective customers through the purchasing process. A “frequently asked questions” section addresses concerns about sanctions, asking: “Given the sanctions on Iran, what is the guarantee that the contract will be executed and the product will reach the destination country?”
“It should be noted that, given the general policies of the Islamic Republic of Iran regarding circumvention of sanctions, there is no problem in implementing the contract,” the response says. “Your purchased product will reach you as soon as possible.”
While prices are not publicly listed, the site says payment can also be arranged in the destination country and offers in-person inspection of goods in Iran, “subject to approval from security authorities”.
The move comes amid growing evidence that countries facing extensive US and European sanctions are using cryptocurrency and other alternative financial channels to sustain trade in sensitive goods.
Washington has taken action against Russian entities for using cryptocurrencies to evade western sanctions.
Parties paying Iran using conventional finance risk being blocked from western-based financial systems as a result of US, EU and UK sanctions.
US authorities have previously accused Iran of using digital assets to facilitate oil sales and move hundreds of millions of dollars outside the formal banking system.
In September, the US Treasury imposed sanctions on individuals it said were linked to Iran’s Revolutionary Guards for operating a “shadow banking” network that used cryptocurrencies to process payments on behalf of Tehran.
The disclosures also come as western powers seek to tighten pressure on Tehran over its nuclear programme. In August, Britain, France and Germany triggered a UN mechanism to reimpose international sanctions on Iran after diplomatic efforts to revive negotiations with the US collapsed.
Iran ranked 18th in the world for major arms exports in 2024, behind Norway and Australia, according to the Stockholm Institute for Peace Research.
The Atlantic Council said in 2024 Iran was well positioned to benefit from Russia’s inability to export the same level of arms as it did before as a result of its invasion of Ukraine.
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