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Iran’s Mindex Accepts Cryptocurrency Payments for Arms Deals
(MENAFN) Iran's military export division now accepts cryptocurrency payments for arms deals, marking a historic shift as international sanctions tighten their grip on Tehran's economy, according to media
Mindex, the Ministry of Defense Export Center, has opened its doors to digital currency transactions alongside traditional barter deals and Iranian rial payments, promotional materials reviewed by the outlet reveal. The unprecedented move comes as one of the first documented instances of a sovereign nation openly embracing crypto for weapons commerce.
The nation's defense trade pivot follows mounting pressure after Britain, France, and Germany activated a UN sanctions mechanism last August. The action came after attempts to resurrect nuclear program discussions with Washington fell apart, leaving Tehran isolated from global banking networks and petroleum markets.
Mindex claims it serves buyers across 35 nations, offering an arsenal that spans ballistic missiles, unmanned aerial vehicles, naval vessels, and air defense technology. The organization's multilingual digital platform showcases everything from handheld firearms to anti-ship cruise missiles, with an automated chatbot system walking potential clients through procurement steps.
Despite layer upon layer of international restrictions, the export center maintains on its website that "there is no problem" executing agreements.
Tehran secured the 18th position globally for major arms shipments in 2024, trailing Norway and Australia, data from the Stockholm Institute for Peace Research shows.
US officials have repeatedly charged Iran with leveraging digital assets to circumvent banking prohibitions and facilitate petroleum transactions. Last September, the US Treasury sanctioned multiple individuals for allegedly running a "shadow banking" operation that processed cryptocurrency payments for Iranian interests.
Mindex, the Ministry of Defense Export Center, has opened its doors to digital currency transactions alongside traditional barter deals and Iranian rial payments, promotional materials reviewed by the outlet reveal. The unprecedented move comes as one of the first documented instances of a sovereign nation openly embracing crypto for weapons commerce.
The nation's defense trade pivot follows mounting pressure after Britain, France, and Germany activated a UN sanctions mechanism last August. The action came after attempts to resurrect nuclear program discussions with Washington fell apart, leaving Tehran isolated from global banking networks and petroleum markets.
Mindex claims it serves buyers across 35 nations, offering an arsenal that spans ballistic missiles, unmanned aerial vehicles, naval vessels, and air defense technology. The organization's multilingual digital platform showcases everything from handheld firearms to anti-ship cruise missiles, with an automated chatbot system walking potential clients through procurement steps.
Despite layer upon layer of international restrictions, the export center maintains on its website that "there is no problem" executing agreements.
Tehran secured the 18th position globally for major arms shipments in 2024, trailing Norway and Australia, data from the Stockholm Institute for Peace Research shows.
US officials have repeatedly charged Iran with leveraging digital assets to circumvent banking prohibitions and facilitate petroleum transactions. Last September, the US Treasury sanctioned multiple individuals for allegedly running a "shadow banking" operation that processed cryptocurrency payments for Iranian interests.
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