Russian lawmaker suggests gold-linked cryptocurrency for weapons exports


From Crypto Coins News, Asker, Norway
Thursday, August 30, 2018

A senior Russian lawmaker has suggested that Moscow should turn to cryptocurrency backed by gold for payments in Russian arms exports to evade financial sanctions from the West.

Prominent lawmaker Vladimir Gutenev, first deputy head of the Economic Policy Committee at the State Duma, the Russian Parliament’s lower chamber, has urged the Kremlin to suspend treaties with the United States amid an escalating policy war.

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In April the Trump administration talked up new sanctions against Russia as punishment for the latter's involvement in the Syrian conflict.

In a notice the following month, the United States sanctioned six Russian entities for allegedly violating its weapons of mass destruction non-proliferation treaty.

Speaking to Russia's largest news agency, TASS, and talking up an "asymmetric response" to the United States, Gutenev called for the suspension of treaties with the U.S., including the non-proliferation of missile technologies.

Pointedly, the lawmaker called on the government to switch to a cryptocurrency as a means of avoiding U.S. dollar-based commerce and dependence on the global interbanking system operated by SWIFT, an organization that has been influenced by U.S. interests in the past. ...

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