Hey, Canada has a law like that, except that it involves actually stripping you of your citizenship. It also doesn’t rely on you having citizenship to another country, but merely on you being entitled to citizenship in another country. For example, if you are Jewish we can strip you of your citizenship and deport you to Israel, even if you aren’t currently an Israeli citizen and have never been there.
I think the new government is repealing the law. They had better, anyway.