The Iranian Ministry of Defense's export arm, Mindex, has begun accepting cryptocurrency as a payment method for its sophisticated weaponry, thereby circumventing international sanctions. This move enables potential buyers to acquire military equipment such as missiles, tanks, and drones using crypto, in addition to other accepted payment methods like Iranian rials or exchange of goods. As the hub for Iran's international defense sales, Mindex claims to serve clients in 35 countries.
However, the prices of the available items are not publicly listed. According to the Financial Times, this development marks one of the earliest instances of a nation embracing cryptocurrency as a payment method for military gear. The use of cryptocurrency in transactions involving countries under sanctions is not new, though.
In early 2025, Chainalysis, a blockchain analytics firm, reported that countries under US sanctions had received nearly $16 billion in digital assets the previous year. The UN sanctions on Iran were reinstated in 2025, including those related to its nuclear program that were initially lifted in 2015.