It is obvious that the process of de-dollarization around the world has started and cannot be stopped, Vyacheslav Volodin, chairman of Russia's lower parliament house, the State Duma, said Tuesday.

After the United States withdrew from the Bretton Woods agreement, the greenback was no longer pegged to gold, while the American printing press is unrestrained, causing huge national debt and record inflation, Volodin said on Telegram.

"The dollar is used as an instrument of political struggle. Illegal sanctions -- restrictions on making payments, theft of foreign exchange reserves -- do not add confidence to other countries that their money will be safe," he wrote.

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