US dollar should be banned in Russia, MP says

A deputy from the Liberal Democratic Party, Mikhail Degtyarev, submitted a bill providing for the termination of the U.S. currency circulation on the territory of Russia. 

According to the MP, the countries that still have the dollar dependence may suffer from the U.S. financial crisis.

The bill will allow the holders of the U.S. currency to either spend it the way they want to or exchange it for rubles.

If the currency is stored in banks and the account holder does not take any action within the time limit, banks will be allowed to sell dollars at the exchange rate of the ruble and return the money to the client.

As the former chairman of the Russian Central Bank, Viktor Gerashchenko, told Politonline.ru, the authors of the bill have absolutely nothing to do with reality.

"I have not been working in the Duma for long, but during my presence there I realized that there are not many people there, who get along with reality. Let's ban the American dollar in Russia. This is idiotic! What about the euro? What if the dollar begins to decline, what will happen to the European currency and their trillions of debts? Kudrin used to fund them from the reserve fund, rather than investing in the Russian economy, industry, roads and pipes."