Effective air defense against military superpower (and they were effectively fighting against American technology) is something very hard to build, with or without sanctions. Ukraine is a good proof: Russia was denied air superiority using manned aircrafts but they still manage to inflict significant damage with missiles and drones.
> I don't think the USSR is still around, and it largely collapsed due to economic pressure
It wasn’t external pressure at all. Soviet Union had everything to be self-sustainable (e.g. Russia and Ukraine have proven later that in agriculture it’s absolutely possible). They failed to execute transition to regulated market economy the way China did. Gorbachev thought democracy goes first (the entire Warsaw bloc collapsed thanks to “blue jeans” - KGB and Stasi feared Western culture the most, and the West was ready to send more of it).