Iran Accepting Crypto Payments for Weapons—But This May Not Help It Evade Sanctions
Iran now accepts cryptocurrency as payment for military equipment, including rockets, aircraft, tanks, boats, firearms, and communication gear, through its Ministry of Defence Export Center (Mindex). This move aims to circumvent international sanctions and represents the first case of a nation-state openly accepting crypto for arms sales. However, industry experts doubt significant transactions will occur through the Mindex website, which lacks standard e-commerce features such as prices, online checkout, payment integration, and crypto wallet details. Instead, potential buyers submit a Letter of Intent for review rather than making direct purchases, with cryptocurrency listed only as a conditional settlement option alongside other barter and negotiated terms. The site primarily acts as a marketing tool and intake mechanism for the Iranian government. Iran has used crypto to bypass international restrictions and facilitate cross-border trade, with groups like the Islamic Revolutionary Guard Corps and proxies increasingly using crypto for money laundering and illicit sales, involving over $2 billion in traceable funds. Despite the challenges, blockchain transparency provides new opportunities for authorities to track and disrupt sanctions evasion networks.
