Iran Initiates Overseas Arms Sales Using Cryptocurrency
- Iran’s Ministry of Defence Export Center, Mindex, now allows arms sales to be settled using cryptocurrency.
- Mindex has established relations with approximately 35 countries, offering products like ballistic missiles and drones.
- Export contracts include operational limitations for buyers, who must comply with usage restrictions in conflicts.
- The platform operates under U.S. sanctions and is hosted on a domestic cloud service linked to intelligence activities.
- Payments can also be made in Iranian rials or through barter deals, with prices not publicly disclosed.
This shift towards cryptocurrency for arms transactions reflects a growing trend among sanctioned nations to utilize digital currencies for trade, circumventing traditional banking systems. The U.S. has previously targeted similar practices by other countries, including Russia.
With Mindex facilitating these transactions, Iran’s approach may enable continued arms exports despite international financial constraints and sanctions pressures.(Source)
