(FORTUNE Magazine) – Will glasnost know no bounds? Mikhail Gorbachev's policy of opening Russia to Western influences has legitimized whispers of capitalism and even democracy. Now the big shocker: Soviet bureaucracy is starting to embrace rock-and-roll. U.S. rock videos are suddenly a hot product. ''Six months ago the Russians wouldn't even look at a video if the men were wearing makeup,'' says Chris Hanley of New York's Rock Video International, who has been negotiating with Soviet television authorities. ''Now, if they can get a good price, they're open to almost anything.'' Was that Michael Jackson on state TV a few weeks ago? Yup, there he was, makeup and all, spinning through his Billie Jean video. John Hall of Filmtrax, a London entertainment company, says he is near a deal to sell the Soviets videocassette rights to an Elton John concert. The Russians make their own rock videos and air them on national TV periodically. The stilted lip-syncing isn't up to MTV standards, but that too may change. One reason: Soveksportfilm, the country's international film agency, plans to release rock concert films by year-end but knows only better- quality ones are likely to sell. One danceable candidate for export is Leningrad's Boris Grebenschikov. His band, Aquarium, has already appeared on MTV. Grebenschikov, who looks like George Plimpton with bad teeth, has acquired a huge underground following in the U.S.S.R. in the past ten years. In January the state record label, Melodiya, released an album of recordings Grebenschikov made at home in pre- glasnost days.