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Iran is reportedly offering to sell advanced weapons systems, including ballistic missiles, drones, and warships, to foreign governments in exchange for cryptocurrency. Tehran is seeking new payment rails that can bypass Western financial controls.
According to a report by the Financial Times, Iran’s Ministry of Defence Export Center, known as Mindex, is pitching deals that accept digital currencies. The center also allows for barter arrangements and payments in Iranian rials.
This offer has emerged over the past year and appears to be one of the first known cases of a nation-state publicly signaling its willingness to accept cryptocurrency for strategic military exports.
Mindex Advertises Weapons Linked to Iran-Backed Groups, Report Says
Mindex claims to have client relationships with 35 countries. It markets a catalogue that includes Emad ballistic missiles, Shahed drones, Shahid Soleimani-class warships, and short-range air defense systems, according to the report.
Its multilingual website also lists small arms, rockets, and anti-ship cruise missiles. Some of these weapons have been linked by Western governments and UN reporting to Iran-backed militant groups in the Middle East, the FT noted.
On its site, Mindex states that buyers must agree to conditions regarding how weapons would be used “during a war with another country,” although it adds that 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 section.
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The site does not list prices, but it mentions that buyers can arrange payment in the destination country. It also offers in-person inspection of goods in Iran, subject to approval from security authorities, according to the newspaper.
This pitch arrives at a time when cryptocurrency has become a practical tool for sanctioned actors trying to keep trade moving. US and European officials have stepped up enforcement against networks that use alternative channels to route money around the formal banking system.
In September 2025, the US Treasury announced sanctions targeting a financial network it said supported Iran’s military. The Treasury 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 off access to Western-linked banking and trade services.
Iran’s arms marketing efforts coincide with a reshaping of the global weapons trade due to the strain of the Ukraine war. The Stockholm International Peace Research Institute (SIPRI) has reported that Russia’s arms exports fell by 64% between the periods of 2015–2019 and 2020–2024. The FT noted that Iran ranked 18th in the world for major arms exports in 2024, while 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 stated that Washington needs a strategy to counter that trend.
