Liberal democrat Mikhail Degtyarev has drafted a law to ban the US currency in Russia, says Izvestia daily.

      According to the paper, the MP thinks the risks of keeping your savings in dollars are extremely high, and that the economic fallout in case of the dollar collapse would be similar to that from Ponzi schemes that siphoned off the Russians' savings in the 1990s.

      If the bill is passed by the national parliament, Russians will have just two years to get rid of their dollars. Confiscation has been suggested as punishment for those who fail to abide by the law.

      However, the United Russia party says it's a populist move and it's not going to support it.