Iran offers missiles and drones for sale using cryptocurrency

The publication notes that Iran is attempting to use digital assets to circumvent Western sanctions and financial controls.

According to trade offers analyzed by the Financial Times that include payment terms, the Iranian Ministry of Defense Export Center, known as Mindex, is prepared to negotiate military contracts that allow payment in digital currencies, Iranian rials, and through barter arrangements.

The offer, presented over the past year, appears to be one of the first known cases in which a state has publicly declared its willingness to accept cryptocurrency as payment for the export of strategic military equipment.

Mindex, the state body responsible for Iran's overseas defense exports, says it has client relationships with 35 countries.

Its promoted weapons catalog includes Emad ballistic missiles, Shahed drones, Shahid Soleimani–class military vessels, and short-range air defense systems.

Its multilingual website also lists small arms, rockets, and anti-ship cruise missiles, some of which, according to Western governments and United Nations reports, have been used by Iran-backed terrorist groups in the Middle East.

Although prices are not publicly listed, the website states that payments can also be made in the destination country and offers in-person inspections of the products in Iran, "subject to approval by security authorities."

This move comes amid growing evidence that countries facing extensive US and European sanctions are using cryptocurrency and other alternative financial channels to sustain trade in goods that pose serious threats.

At the same time, parties making payments to Iran through traditional financial institutions risk being blocked from Western financial systems due to sanctions imposed by the United States, the European Union, and the United Kingdom.

Protests in Iran

Mass protests have erupted in Iran due to an economic crisis and a sharp decline in the national currency.

These protests have become the largest in Iran since 2022.

The first demonstrations began over the weekend, when traders at Tehran's Grand Bazaar protested soaring inflation by closing their stalls.

Hundreds of shop owners in the Iranian capital and other cities joined the strike. The protest initiatives quickly evolved into a broader movement uniting opposition to the regime. Demonstrations spread to universities and streets, with millions of people taking part.

The country's economy has been in a problematic state for many years due to US and Western sanctions imposed in response to Tehran's nuclear program.