The European Union says it has fined US tech giant Google 2.95 billion euros, or about 3.45 billion dollars, for favoring its own online advertising services to the detriment of competition in the industry, Euronews reports.
The European Commission, the bloc's executive branch, announced the measure on Friday, citing the EU's antitrust rules.
It says Google has abused its dominant position in the advertising technology industry to favor its services over its competitors since 2014.
Teresa Ribera, the commission's Executive Vice-President for a Clean, Just and Competitive Transition, said in a statement that Google abused its dominant position in ad-tech, harming publishers, advertisers and consumers.
She said digital markets must be grounded in trust and fairness.
Google stated that the European Commission's decision is wrong, saying it imposes an unjustified fine and requires changes that will hurt thousands of European businesses.
US President Donald Trump has repeatedly criticized the EU's regulations against US tech firms.
In a social media post, he called the decision "very unfair," suggesting a countermeasure.
EU sources say the latest decision could impact the bloc's tariff negotiations with the US. They say an EU official in charge of trade expressed opposition to the measure.
