[c3o]

The law's not limited to "European websites": If you're making your service available to Europeans, you fall under it.

Of course, the EU can't enforce its laws on you in practice unless you have a local subsidiary (or datacenter, bank accounts, etc)... but it's possible that rightholders may get European ISPs to block offending and non-repentant sites at that level – like ThePirateBay is blocked in countries like Austria and Belgium.