Iran offers foreign governments to buy weapons with cryptocurrency - FT

Iran has proposed selling modern weapons systems, including ballistic missiles, drones, and warships, to foreign governments for cryptocurrency. Tehran is thus attempting to use digital assets to circumvent Western financial restrictions, UNN reports, citing Financial Times.

Details

Iran's Ministry of Defense has stated its readiness to negotiate military contracts that allow payment in digital currencies, as well as through barter agreements and Iranian rials, according to promotional documents and payment terms.

This is one of the first known instances where a nation-state has publicly declared its willingness to accept cryptocurrency as payment for the export of strategic military equipment.

The move comes amid growing evidence that countries facing significant sanctions from the US and Europe are using cryptocurrency and other alternative financial channels to support trade in sensitive goods, the FT reports.

According to the Stockholm International Peace Research Institute, in 2024, Iran ranked 18th in the world in terms of arms exports, behind Norway and Australia.

US authorities have previously accused Iran of using digital assets to facilitate oil sales and move hundreds of millions of dollars. In September, the US Treasury Department sanctioned individuals who, according to the agency, were linked to the Islamic Revolutionary Guard Corps for operating a "shadow banking" network that used cryptocurrencies to process payments on behalf of Tehran.

Recall

US President Donald Trump threatened Iran with "action" if official Tehran killed protesters who came out due to the unstable economic situation in the country.

Even earlier, Trump stated: if Iran tries to build up its forces, Washington will "kick its ass".