Yes, sanctions can backfire badly over time as the sanctioned nation/s develop their own technology and supply chains and gain the ability to develop outside of the hegemony of sanctioning powers.
It requires a strong national unity, commitment and sense of purpose, but once achieved self determination is a hugely empowering strategic asset.
Most of the world is more or less subservient militarily and monetarily to the US and its petrodollar empire- but that is changing.
Monopolies tend toward waste and inequality.
Competition is more productive.
A more multi-polar world might not be all bad...and it looks increasingly inevitable.