No they cannot, legally speaking, and companies do not want to face sanctions avoidance charges, so practically speaking no American company will touch the European model hosts either.
In 5 to 10 years most of EU will be partnering with China, not US. Banking will become more "Chinese centric" and most of EU will show a middle finger to US with its FATCA, DMCAs, sanctions and other BS.
In 5 to 10 years most of EU will be partnering with China, not US. Banking will become more "Chinese centric" and most of EU will show a middle finger to US with its FATCA, DMCAs, sanctions and other BS.