It
has restricted their access to the technology and it has had a serious impact on their ability to use and manufacture precision bombs.
They rely more and more on Iranian and domestic drones, which have a smaller explosive payload and are more susceptible to AA fire. they're also re-purposing AA missiles to be land-attack weapons, etc. These are
reductions in capabilities.
January 2023:
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April 2023
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They are still making cruise missiles, but have probably used up all of their stockpiles, so now they can only use what they can make. China and others are providing the tech needed to make these, and that obviously weakens the sanctions effects, but it was never going to be reduced to zero. If the sanctions were not in place, they would be making a lot more of them, I'm sure.
Russia will never completely run out of high tech military equipment, but they are definitely being hampered by the lack of them, and that in part goes on to explain why they're unable to carry out the kind of operations they want.