That's not how my AML / Sanctions training suggests it works. Third party countries do not have to follow the rules of another country with regards sanctions and can continue trading with the subject country should they wish. Goods and transactions that go through the country(ies) imposing the sanctions could be impounded though.
I think that if we held, say a Chinese ship on the high seas because it was delivery goods to Iran, then we would be heading to war.
The USA has sanctions against Cuba. Many other countries trade with Cuba, including the UK. I don't see US forcing ships and planes to divert, but if they entered US airspace or seas, on route then that is a different matter.
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