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Russian weapon and arms manufacturer Soyuzmash which is the Union of Machine Builders in Russia, asked the Central Bank for permission to start accepting bitcoin and other cryptocurrency payments for weapon deals in order to bypass the US sanctions as we read about in the previous altcoin news.

The Vice President of Soyuzmash, Vladimir Gutenev, told the advisory council on military-technical cooperation that the current conditions are very tough due to the harsh sanctions that were imposed by the United States. The environment is not a competitive one because of the strong sanctions pressure so this is why they are considering payments for weapons to be conducted in bitcoin since the transactions are increasingly difficult.

However, Soyuzmash which is backed by the State Duma defense commission, believes that if they start accepting bitcoin payments, this could alleviate some of the issues. The anonymous transactions are one of the ways that can provide a solution to the existing problems. The problems of course with this is that Russia’s central Bank has been very strong on the stance that they don’t want to legalize bitcoin.

One of the key issues that many authorities have with Bitcoin is the alleged use for buying and selling illegal items on the dark web. The illegality of Bitcoin in Russia prevents the state-backed companies to properly function which makes it morally questionable that the arms deals seem rather ironic. Apparently, Gutenev discussed the matter with the chief of the Central Bank Elvira Nabiullina and he also proposed using a stablecoin if the bank agrees.

The Russian weapon manufacturer is now trying to avoid the sanctions since it is the second most largest exporter of weapons in the world. It comes right after the United States with 21% of the market. Recent reports show that countries such as Iran, China and Russia may already have a long-term cryptocurrency strategy in order to avoid the sanctions as noted in the latest cryptocurrency news.

In the meantime, it seems like the Russian Duma is divided on the question of crypto regulation. The previous suggestions of crypto-ruble launch have been put on hold so the legislators now are willing to wait and see how the future of crypto will play out.