Iran Embraces Cryptocurrency for Arms Trade Amid Western Sanctions
Iran's Ministry of Defence Export Center (Mindex) has pivoted to cryptocurrency payments for military exports, including ballistic missiles and warships. The move strategically circumvents Western sanctions by leveraging digital assets, barter arrangements, or its national currency.
The Financial Times reports Mindex now negotiates contracts in crypto, emphasizing seamless delivery despite sanctions. Over $100 million in crypto-linked oil transactions have already been traced to Iran by the U.S. Treasury, underscoring the nation's growing reliance on blockchain-based financial channels.
This development signals cryptocurrency's expanding role in global trade systems, particularly for sanctioned entities. Iran maintains military trade relationships with 35 countries through Mindex, with warships and missiles now part of its crypto-commerce portfolio.
