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Have Fun With A Quiz in Gate Chat Group & Unlock Big Rewards!
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Iran begins accepting cryptocurrencies as a payment method for military exports
Source: PortaldoBitcoin Original Title: Iran begins accepting cryptocurrencies as a payment method to export missiles and tanks Original Link: Iran has started accepting cryptocurrencies as a payment method for exporting weapons and defense systems, as a means to circumvent US and international economic sanctions.
This move can be confirmed on the official website of the Iran Ministry of Defense Export Center Mindex. The center claims to have clients in 35 countries. The company states in its “Frequently Asked Questions” section that cryptocurrencies are a payment method, and the specific virtual assets used must be agreed upon in advance in the contract.
Other payment methods include cash, Iranian rial, barter trade, or special credit.
Products sold on the website include ammunition and high-powered weapons (such as rifles, machine guns, missiles) as well as military vehicles (such as tanks). Product prices are not displayed on the website.
The Financial Times reports that this is one of the first countries to accept cryptocurrencies as a payment method for military equipment.
Iran’s economic difficulties began in 2018 when US President Donald Trump decided to reimpose economic sanctions and withdrew from the nuclear deal with the country.
Additionally, in September of this year, the United Nations also reimposed sanctions on Iran, marking the first tightening of restrictions in ten years. The sanctions are related to the agency’s allegations that Iran failed to comply with the terms of the nuclear agreement.