The 'principality' of Sealand has received a multi-million dollar investment offer from a Russian investment group to fund the launch of a new communications satellite.

The deal would provide the self-proclaimed 'independent state' with worldwide internet freedom and internationally unrestricted internet broadcasting from the former military fortress.

Sealand would be able resume the launch of Sealand Casino, the world's first national online casino offering tax-free winnings to all players.

The casino's launch was delayed after international political pressure from the US and the UK, as it would have been hosted in a country with a restrictive treaty regarding online gambling.

The Russian venture group's propositions involve installing new high-capacity servers and launching a satellite to enable content to be delivered without political restrictions.

One resident of Sealand, who is involved in the ongoing negotiations, praised the proposed investment initiative.

"Total freedom of speech and free use of the internet is the whole essence of this wonderful medium. The Sealand satellite will be the greatest revolution since the dawn of the internet," he said.

Concerns have been raised about the proposed system after fears that it could promote the use of Sealand as a data haven for criminals as well as further encourage illegal downloads and file sharing.

Sealand celebrated its 40th anniversary on 2 September, commemorating the day that 'Prince Roy of Sealand' exerted 'state authority' on the island.