They don't have access to $640 billion in reserves. Half of those reserves are locked up under foreign control [1] and may be taken from Russia as compensation

They don't have access to $640 billion in reserves. Half of those reserves are locked up under foreign control [1] and may be taken from Russia as compensation for Ukraine (properly). Russia is now admitting they're going to default on foreign debt because they can't pay [2]. "Banks are stopping Putin from tapping a $630 billion war chest Russia stockpiled before invading Ukraine" "... it turns out that Russia’s foreign reserves strategy had a major flaw: About half of the money was held overseas in foreign banks—and now Russia can’t get to it. " [1] https://fortune.com/2022/03/03/russia-sanctions-central-bank-ruble-us-eu-foreign-reserves/ https://fortune.com/2022/03/03/russia-sanctions-central-bank... [2] "Russia says debt payments abroad hinge on unfreezing of reserves." https://www.bloomberg.com/news/articles/2022-03-10/russia-says-debt-payments-abroad-hinge-on-unfreezing-of-reserves https://www.bloomberg.com/news/articles/2022-03-10/russia-sa...