Iran Seeks to Use Cryptocurrencies to Bypass Sanctions with BRICS Countries

The Iranian government is looking into using cryptocurrencies to facilitate trade with countries like India and other BRICS nations, bypassing the sanctions imposed by the United States and the United Nations. In August 2025, France, the United Kingdom, and Germany reinstated international sanctions on Iran through a ‘snapback mechanism,’ responding to Iran’s alleged uranium enrichment and restrictions on International Atomic Energy Agency access. Since around 1979, the U.S. has imposed various levels of sanctions on Iran, notably cutting off Iran from the international SWIFT payment system. ‘Cryptocurrencies offer new avenues for trade and business transactions,’ stated Mohammad Bagher Ghalibaf, Speaker of the Iranian Parliament, at the deBlock Summit, Iran’s first international blockchain conference supported by the government.