Though frustrating, the rest of the world has had to deal with the extra-territoriality of US laws for decades now, particularly in finance. I don't think it's good. But at least it is recriprocal.
It’s entirely common for countries to have codes that affect those outside their borders - especially ones that were agreed upon in treaty or trade deal. What is unique here is a country demanding that a non local company engage in censorship outside its territory. These two things are nothing alike
The extraterritorial application of US economic sanctions goes way beyond anything any other country is doing to impose its laws abroad.
These secondary sanctions are not based on international treaties and trade negotiations. They're based on levers of power that the US possesses and exploits, much to the chagrin of foreign countries. They are also not common. There's no other country that comes close to imposing its trade policy on the rest of the world in this manner.
You clearly have no idea what you’re talking about - these things don’t just happen overnight cause the US says so.
Sanctions in this case have been discussed and formalized by multiple groups and organizations including OECD, FATF and the UN Security Council.