Pretty much what I was thinking too! If your company has violated the law previously in the same or similar manner, you should not be permitted to sell to customers in that market for the equivalent amount of time an individual would be jailed for. I am not opposed to the concept of treating a corporation as a legal entity, but I think that if a corporation is going to be considered a legal entity, they should inherit the same legal consequences a human would incur, if they break the law.
Realistically speaking, I don't see many politicians supporting this kind of change. I'm not even thinking of the issues around corruption, but merely the knowledge that hurting that company would in turn, also impact their own economy in the process.
Imagine if no business of a nation were searchable in Google for a 4 year period. It would be devastating.
Similarly, there are a lot of physical consequences to consider as well. If you lock out a company like Apple or Coke from operating in a country, suddenly there are a lot of related issues.
If Apple could not operate in a specific nation for a set amount of time, suddenly any stores they have would presumably be closed. This would impact customers ability to get their devices repaired. I would also have to assume that all employees at each of those locations would be fired, leaving a sudden glut of unemployment, impacting people who had nothing to do with the situation.
If Coke were to be banned for some set amount of time, it would make a lot of weird cases around things like Vending Machines and Grocery stores. The company might not be marketing or selling their products to distributors, but those distributors might still be selling that product. Once their stock ran out, if they were to attempt to purchase more from the company in a nearby country, who would be at fault? Coke, or the distributor?
I imagine it would create a ton of issues with other things, like agreements to pay X amount of money over time. Stock trading would be another big one, not just in individual stocks, but in mutual funds and ETFs that might be heavily invested in that company. In one sense, it might make investors and day traders more weary and discerning from who they decide to trade with, but trying to figure out which company is breaking which laws, and how likely they are to get caught doing it, is practically impossible to determine, without inside knowledge on the matter.