Gref: de-dollarization is right decision at macro level

Sberbank president and CEO Herman Gref believes that the dollar remains one of the main means of protection in Russia and the whole world. But de-dollarization, according to him, is strategically a very correct measure.

"The dollar today is the world’s monopolist," Gref stressed, adding that any monopoly is evil. Second. "In economic theory, there is a rule, the debt as such is less important than its currency," the Sberbank head recalled. If the debt is in the "national currency", then that’s not so terrible," he noted. But when "currency risks accumulate", then "it makes sense to worry," Gref pointed out.

De-dollarization is the "right decision at the macro level," he said. Another thing is that "there is no alternative to the dollar in the world right now and there won’t be one for a long time, no matter how hard the other countries may try to create one," Gref believes.

"I don’t think the situation will change considerably for several decades to come. But this does not mean that nothing should be done," TASS cited him as saying.