Iran Looks to Crypto as Payment for Overseas Arms Sales: Report

Iran is reportedly offering to sell advanced weapons systems including ballistic missiles, drones and warships to foreign governments for cryptocurrency, as Tehran looks for new payment rails that can slip past Western financial controls.

The Financial Times reported that Iran’s Ministry of Defence Export Center, known as Mindex, is pitching deals that accept digital currencies, while also allowing barter arrangements and payments in Iranian rials.

The offer emerged over the past year and appears to be one of the first known cases of a nation-state publicly signalling it will take crypto for strategic military exports.

Mindex Advertises Weapons Linked To Iran-Backed Groups, Report Says

Mindex says it has client relationships with 35 countries, and it markets a catalogue that includes Emad ballistic missiles, Shahed drones, Shahid Soleimani-class warships and short-range air defence systems, according to the report.

Its multilingual website also lists small arms, rockets and anti-ship cruise missiles, some of which Western governments and UN reporting have linked to Iran-backed militant groups in the Middle East, the FT said.

On the site, Mindex says 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 also operates an online portal and a virtual chatbot, which guides prospective customers through the process and addresses concerns about sanctions in an FAQ.

Sales Pitch Emerges As Crypto Aids Trade For Sanctioned Actors

The site does not list prices, but it mentions buyers can arrange payment in the destination country and it offers in-person inspection of goods in Iran, subject to approval from security authorities, according to the newspaper.

The pitch lands at a moment when crypto has become a practical tool for sanctioned actors trying to keep trade moving, and US and European officials have stepped up enforcement against networks that use alternative channels to route money around the formal banking system.

In Sept. 2025, the US Treasury announced sanctions targeting a financial network it said supported Iran’s military, and it alleged the use of shadow banking structures that can include crypto-linked schemes and overseas fronts.

Russia’s Arms Exports Slump Opens Door For Rivals

For counterparties, the risks remain high, anyone using conventional finance to pay Iran can face restrictions under US and allied sanctions programmes, which can cut access to Western-linked banking and trade services.

Iran’s arms marketing also comes as the global weapons trade reshapes under the strain of the Ukraine war. SIPRI has reported that Russia’s arms exports fell 64% between 2015 to 2019 and 2020 to 2024, and the FT said Iran ranked 18th in the world for major arms exports in 2024, while noting that Russia’s reduced capacity has opened space for other suppliers.

The Atlantic Council argued in 2024 that Iran was on track to replace Russia as a leading arms exporter and said Washington needs a strategy to counter that trend.