This is a weapon that the US has been honing for a long time. Pretty much every modern company has some footprint in the US (for example, maybe trades on a US stock market) and is liable for even mild sanctions violations to the tune of millions at least.
And the EU apparently has the counter ready, which would make such companies liable for millions when they enact US sanctions in the EU.
I'm very curious what would happen then? Nothing presumable, as nothing ever happens, or it might be another step to separate the EU market from the US.
Good. We've been in the age of super national global corporations living playing fast and loose. Maybe this will keep them from gobbling up even more power.
No, it won't. And lashing out with random shots in the dark tends to advance corporate control, as we've seen with the results from the trumpist tantrum. As long as ownership (/controlling interest) of companies continues to be basically unregulated cross-border (because the class of people having it also have the ears (if not the necks) of politicians), then things like sanctions are merely speed bumps on commerce that increase large-scale market friction and thereby increase the domestic power of corpos.
