diff --git a/crypto/vm/vm.cpp b/crypto/vm/vm.cpp
index 3f595a00e..d21ce9747 100644
--- a/crypto/vm/vm.cpp
+++ b/crypto/vm/vm.cpp
@@ -441,10 +441,16 @@ int VmState::step() {
     if (log.log_mask & vm::VmLog::DumpStackVerbose) {
       mode += 4;
     }
+    std::unique_ptr<VmStateInterface> tmp_ctx;
+    // install temporary dummy vm state interface to prevent charging for cell load operations during dump
+    VmStateInterface::Guard guard(tmp_ctx.get());
     stack->dump(ss, mode);
     VM_LOG(this) << "stack:" << ss.str();
   }
   if (stack_trace) {
+    std::unique_ptr<VmStateInterface> tmp_ctx;
+    // install temporary dummy vm state interface to prevent charging for cell load operations during dump
+    VmStateInterface::Guard guard(tmp_ctx.get());
     stack->dump(std::cerr, 3);
   }
   ++steps;