The European Union fines Google €2.95 billion for violating antitrust rules.

The European Commission announced this Friday a €2.95 billion fine against Google for abusive practices in the advertising technology sector, favoring, for example, its own services over other competing providers that also serve online advertisers and publishers. The company has announced it will appeal, considering the fine "unjustified," according to the AFP news agency.

The decision, which had been expected for days but was speculated to have been postponed due to trade tensions between Brussels and Washington, means that Google must immediately end these anti-competitive practices and, at the same time, take steps to avoid inherent conflicts of interest throughout the supply chain.

Following the announcement of the sanction, Google now has 60 days to inform the EU executive on how it intends to proceed , according to Europa Press. The case dates back four years, when the European Commission announced the launch of an in-depth investigation into suspected illegal practices by the technology company.

"Friday's decision shows that Google abused its dominant position in digital advertising , harming publishers, advertisers, and consumers. This is illegal behavior under EU antitrust rules," said Teresa Ribera, European Commission Vice President for Competition, in a statement issued after the fine was announced.

Ribera also warned that "Google must now present a serious solution to address its conflicts of interest" and that, if it fails to do so, the Commission "will not hesitate to impose strong measures."

"Digital markets exist to serve people and must be based on trust and fairness. And when they fail, public institutions must act to prevent dominant players from abusing their power," he added.