Can a foreign country's sanctions on US individuals compel the US banks or companies to cut ties or not do business with them (even on US soil)?
For e.g. China, in January, sanctioned Mike Pompeo, John Bolton and many other Trump administration officials. The sanctions' details say that "any institution or entity associated with them will be blocked from doing business in China".
So for e.g. say that Mike Pompeo has a bank account in JPMorgan or any other banks who do business in China. So does that mean that JPMorgan or others will be banned from doing business in China? Also, wouldn't they ever finance/do business with Pompeo even on US soil and freeze his account which is physically on US soil? And does that mean JPMorgan is automatically barred from doing business in China because that's what Chinese sanctions mean and it also can't freeze Pompeo's account as it has a legal obligation to him under US law?
More interestingly, the details also include "any entity". So, will Pompeo not be able to buy goods/services or do anything with them? The details also include "institution". So will no university/college/organization be able to employ them even on US soil or anywhere globally? And what about any third party (non-US, non-Chinese) institution or entity?
Does that also mean Pompeo and others sanctioned can't be employed in a US/foreign company that has business in China?
Is my understanding wrong?