Russian MP Submits Bill To 'De-Dollarize' Sports Organizations

Mikhail Degtyarev (middle) said that the draft law was developed to reduce dependence on the U.S. dollar.GETTY IMAGES

A Russian MP is bidding to protect local athletes from "being held hostage" to political forces by limiting the use of U.S. dollars in Russian sport, "amid broader efforts to move the country away from the greenback," according to RT. Russian State Duma Committee on Physical Culture, Sport, Tourism & Youth Chair Mikhail Degtyarev reportedly submitted the bill on Tuesday. He is seeking to reduce transactions in dollars by sports organizations in Russia, "so as to shield them and their athletes from anti-Russian sanctions or political fallout amid strained relations" with the U.S. Degtyarev said that the steps would be part of Russia's broader "de-dollarization" efforts to make the nation "less susceptible to attempts to bar it from transactions" in the U.S. currency (RT, 10/23).