Russian access to high-tech industries including semiconductor manufacturing has effectively been severed by the latest round of U.S. sanctions. And while analysts argue these efforts will no doubt harm the Russian economy they also warn the sanctions could have broader supply chain implications.

The export ban is part of a sweeping effort condemning the Russian invasion of Ukraine, and aim to "impose severe costs on Russia's largest financial institutions and will further isolate Russia from the global financial system," a White House statement reads.

As a result of the sanctions, large foundry operators including Taiwan Semiconductor Manufacturing Co. (TSMC), Samsung Electronics, Global Foundries, and Intel — all of which rely on U.S. intellectual property relating to the manufacture of advanced semiconductor technologies — are now prohibited from serving Russian customers.

The White House claims the measures, which have already garnered support from Australia, Canada, the European Union, Japan, and the U.K., effectively cut off more than half of Russia's high-tech imports, "atrophying its industrial base and undercutting Russia's strategic ambitions to exert influence on the world stage."

TSMC, Samsung Electronics, Intel, and Global Foundries have all publicly acknowledged the export bans and said they would comply with them.

While Russia may have been cut off from chip manufacturing, isolating the county isn't without consequences, CCS Insights analyst Marina Koytcheva pointed out in a recent blog post.

"Russia produces almost half of the global supply of palladium. Neon, helium, scandium, copper and other elements have been mentioned as coming under threat of constrained supply and higher prices," she wrote.

These materials are critical to a slew of high-tech products, including smartphones and semiconductors. "However, at present there doesn’t seem to be a common view of how badly, if at all, this will affect manufacturing of components, at least in the short term," Koytcheva added.

It's not just resources required for high-tech industries at play either, Forrester researchers wrote in a recent report. "Russia supplies more than a third of Europe's natural gas and is the world's second largest oil exporter," the report read. "Firms should immediately start mapping the ecosystem of relationships with operations, assets, data, and dependencies on the region."

According to Forrester more than 3,300 U.S. and European firms have tier-one suppliers in Russia.

So, while sanctions may hurt the Russian economy, the efforts will likely have a ripple effect on the global economy as a direct result of the war, Koytcheva said.

If any of this sounds familiar, that's because the U.S. leveled similar sanctions against Chinese firms in the final days of the Trump presidency.

While nowhere as sweeping, the efforts required all non-U.S. chipmakers using America equipment, intellectual property, or design software to apply for a license to sell chips to Huawei. That company was accused of corporate espionage, intellectual property theft, and has been dogged by questions related to its relationship with the Chinese government.

In the months that followed that decision, the Commerce Department doubled down, blacklisting China's largest chipmaker SMIC and enacting additional provisions barring the company from acquiring U.S. technologies require to produce 10-nanometer and small chip designs. SMIC's smallest process node is 14 nanometers, putting it several years behind TSMC, Samsung, or Intel.

By comparison, the sanctions leveled against Russia go much farther, effectively cutting the country off from any high-tech goods manufactured using technologies developed by the U.S. and its allies.

And unlike China, which has invested billions into developing a domestic foundry industry, Russia lacks any such infrastructure.