Completely and utterly false.
The jurisdiction of a server is where the server is located, NOT where the company is located.
By your logic, if a company is located in America, but they own a server in Saudi Arabia, that server doesn't need to follow Saudi Arabia laws.
But that's incorrect, the server is in Saudi Arabia, so it must follow Saudi Arabia laws, even though the company is not in Saudi Arabia.
The same logic applies in reverse. If a company is in Saudi Arabia, but they own a server in America, that server follows American laws, not Saudi Arabia laws.
You have zero understanding of jurisdiction, or international laws.