I'll dip you into reality for a bit. A little about the "world leader of Russia and its true friends"
I read about the "greatness of Russia" and "bald miserable helmsman of Russia" every time I laugh heartily
So:
China "took hostage" $ 100 billion of Russia's reserves
Having invested 17% of its gold and foreign exchange reserves in the yuan, the Russian authorities admitted that it was simply impossible to withdraw funds from Chinese assets.
The sale of yuan, in which more than $100 billion of gold reserves were invested as of January 1, requires a separate agreement with China. This is stated in the presentation of the Central Bank of the Russian Federation, prepared for a meeting with members of the government on the future of the reserves and plans to fill them with "friendly" currencies.
According to a document cited by Bloomberg, the authorities are discussing the possibility of buying yuan and other “soft” currencies for $70 billion. At the same time, the Central Bank admits that after the imposition of sanctions and a ban on transactions with dollars and euros, it is not easy to find assets for gold reserves.
The choice comes down to a few "friendly" countries. But the Turkish lira cannot get out of the “corkscrew” of chronic devaluation and has lost 90% of its value in 10 years. The UAE dirham, according to the presentation, is subject to “political risks”: US officials have frequented the emirates, demanding that Dubai not be turned into a hub to circumvent sanctions.
Only the yuan remains, but there are problems with it: it is relatively easy to invest in Chinese assets, but not to withdraw it back. This requires the permission of the Chinese authorities, and “it will be very difficult to get it in a crisis,” writes the Central Bank (quotes from Bloomberg).
In the Chinese "trap" were the last non-frozen reserves of Russia. Of the $640 billion that the Central Bank had before the start of the war, about half fell under the first wave of Western sanctions. These are dollars, euros, Japanese yen, British pounds, as well as Australian and Canadian dollars.
Central Bank gold - 2.3 thousand tons, which is the fifth largest gold reserve in the world - fell under separate US sanctions in April. And although the bars are stored in Russia and cannot be arrested, it is hardly possible to sell them abroad “secretly”: Russian gold has characteristic impurities that will unambiguously show the country of origin of the metal.
Before the start of the war, the Central Bank, according to its annual report (.pdf), held $105 billion in yuan. It began buying Chinese currency in 2018, when the United States imposed sanctions against Rusal and discussed measures against the Russian public debt. In 2021, the Ministry of Finance joined the central bank, which converted the dollar part of the National Wealth Fund into yuan.
The Central Bank purchased the largest "portion" of yuan ($44 billion) in the spring of 2018, when the Chinese currency fluctuated between 6.2-6.4 yuan per dollar. The Ministry of Finance invested in the yuan at a rate of 6.4 per dollar ($17 billion). Now the Chinese currency is trading at about 6.9 yuan per dollar and has fallen by 7% since the beginning of the war in Ukraine. This “cut off” $7 billion from Russian gold reserves in the form of foreign exchange losses.
Despite all the difficulties, according to Bloomberg sources, the central bank and the government have agreed on a strategic decision to bring investments in yuan to $180 billion.
https://www.moscowtimes.eu/2022/09/04/kitai-vzyal-v-zalozhniki-100-milliardov-rezervov-rossii-a23884