You mean like America? That time when the USA decided to enforce their embargo against Cuba by intercepting a payment from one of the Nordics for a bunch of Cuban cigars? No, that's unlikely.

> Is the EU going to extradite owners of these businesses?

Extremely unlikely, besides that would require the cooperation of the other country. But - and this is interesting - the other countries typically expect the EU to cooperate with extraditions when the law is broken and we do. So who knows.

> Are EU courts going to issue default judgements on businesses and individuals?

Against individuals: Unlikely, but it could happen, against businesses, that's typically how things go when one party doesn't show up.

But note that for that to happen you first have to ignore the regulators for long enough to get them really pissed off, an action I would recommend against.