Iran Accepts Crypto for $16B Arms Deals, Skirting Global Banking Rules
Iran has just added cryptocurrency to its roster of payment options for selling arms abroad, alongside bartering and the good old Iranian...
Quick overview
- Iran has added cryptocurrency as a payment option for arms exports, alongside bartering and the Iranian rial.
- Despite international sanctions, Iran is leveraging cryptocurrency to facilitate military sales and bypass traditional banking restrictions.
- The Ministry of Defence Export Center has launched a comprehensive online platform for arms sales, ensuring delivery despite sanctions.
- The use of cryptocurrency by Iran raises questions about the effectiveness of current sanctions and their ability to restrict trade.
Iran has just added cryptocurrency to its roster of payment options for selling arms abroad, alongside bartering and the good old Iranian rial. This is happening at a time when Tehran is trying to keep its military exports alive even though the world has largely locked them out of international banking networks.
The US, the EU, and others have been slapping financial sanctions on Iran for its nuclear program and for causing chaos in the region. And for a long time, these sanctions have effectively shut down the usual payment channels. But then along came cryptocurrency, this digital thing that allows people to send money directly from one person to another without the need for traditional banks.
Even if the banks are blocked, the money can still get through. Chainalysis said that sanctioned nations got nearly $16 billion in cryptocurrency payments in 2024 – that should give you an idea of just how big this has gotten.
Weapons Catalog and Delivery Guarantees
Mindex, the Ministry of Defence Export Center, has put together a website listing all Iranian arms available for export. It’s pretty comprehensive. You can see things like:
BREAKING: Iran is now accepting Bitcoin for weapons, Missiles, Drones, and Warships.
Why? To Bypass Sanctions after their Currency Crashed 50% and Inflation Soared 42.5%.
Crypto Goes from Oil to arms, Openly. The world is watching. pic.twitter.com/7pbuHSgenH
— Crypto Patel (@CryptoPatel) January 1, 2026
- Those Emad ballistic missiles and cruise missiles.
- Shahed drones and air defense systems.
- Even some rockets, warships, and small arms.
You can pay in all sorts of ways – cryptocurrency, a barter deal, or with good old Iranian rials. Even if sanctions are imposed on them, the goods will still be delivered. No delays. And to make life easy for people, they’ve set up an entirely online system that you can use in your own language, with a chatbot to help you navigate the whole process.
The website even runs on an Iranian cloud service – funny that should be, because it’s actually been sanctioned by the US Treasury. But don’t worry, it still works fine for all you foreign buyers.
Global Implications and Sanctions Challenges
The fact that Iran is now using cryptocurrency to sell arms has got the whole international community wondering if sanctions are still worth it. You see, the US has previously gone after individuals associated with Iran’s Revolutionary Guards on charges of running shadowy banking networks using cryptocurrency. And that’s not all – these digital assets have also helped Iran sell oil and transfer funds, all outside the usual regulated systems.
Key takeaways:
- Iran ranked 18th worldwide in arms exports in 2024 (SIPRI figures).
- Using cryptocurrency is likely to allow Iran to keep selling arms despite sanctions.
- Traditional sanctions are starting to look dodgy as digital currencies keep enabling cross-border trade.
So here we are with Iran raking in $16 billion from its military exports and using cryptocurrency to get around the sanctions. And people are starting to wonder if these sanctions are really doing much good anymore. Using cryptocurrency like this at the state level is just a whole new level of what sanctioned economies can do to get around trade restrictions.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save