More like bad reporting by the US media. Russia can't supply even a fraction of the soy required to fill the gap left by China not buying it from the US, they simply don't grow enough. The headlines gave you a different idea because that helped feed a narrative about Trump and Russia. (In reality, China growing their own soy did more to fill that gap, but that wasn't close to enough either.)

China has been trying to push for local microchip manufacturing for years. Where they haven't succeeded it's not for lack of resources put into trying.