Money held by Iran in Venezuela has already been withdrawn, the head of the Iran-China Joint Chamber of Commerce said on Monday, as questions grow over Iran’s investments following the arrest and transfer of Venezuelan President Nicolas Maduro by the United States.
“Anyone who had money in Venezuela has already taken it out,” Majidreza Hariri said, responding to concerns about Iranian assets worth an estimated two billion dollars.
He added that instability in Venezuela had been evident for at least five to six months, leaving ample time for Iranian funds to be withdrawn, and warned against attempts to use the crisis as a pretext to write off debts.
He said Iran-Venezuela Bank has not functioned as an effective commercial bank in recent years as financial transactions between the two countries were not conducted through this bank.
According to Iran’s foreign ministry on Monday, economic and diplomatic relations with Venezuela remain intact in the wake of Maduro’s arrest, and political developments do not automatically alter bilateral ties.
“Relations between states are based on mutual respect and interests,” said spokesperson Esmail Baghaei earlier in the day.
He said Iranian diplomats and citizens in Venezuela are safe and that Tehran continues to monitor the situation closely.
The Ministry of Defence Export Center, known as Mindex, presents itself as the export arm of Iran’s defense ministry. It advertises more than 3,000 products across categories including armaments, rockets and missiles, aviation, marine platforms, and radar and optical systems.
The portal’s payment terms say contracts can be settled using “digital currencies,” local currencies in the buyer’s country and barter arrangements, alongside more traditional bank transfers.
Mindex’s online platform, hosted on an Iranian cloud provider already blacklisted by Washington, says decades of experience in overseas sales and says it works with a number of foreign clients.
A frequently asked questions section reassures potential buyers that “given the general policies of the Islamic Republic of Iran regarding circumvention of sanctions, there is no problem in implementing the contract,” and promises that purchased products will reach their destination “as soon as possible,” FT reported.
According to the center’s own “About us” page, Mindex began its marketing activity in 1989 and is “affiliated to the Ministry of Defence and Armed Forces Logistics,” (MODAFL) a ministry that has been under US sanctions since 2007 for supporting Iran’s missile and conventional arms programs.
Washington has repeatedly targeted MODAFL‑linked front companies and procurement networks, warning that foreign entities supplying or buying military hardware through such channels risk secondary sanctions and potential exclusion from the US financial system.
Recent US designations have also singled out Iran‑linked “shadow banking” and crypto networks accused of helping Tehran move money for oil and weapons sales outside formal banking channels, underscoring the risks for buyers using digital assets to pay Mindex.
US Treasury in recent months has sanctioned multiple Iran‑linked networks accused of using front companies and alternative payment channels to facilitate weapons transfers to partners such as Russia and Venezuela, warning that digital currencies do not shield transactions from enforcement.
