The European Commission today fined Google €2.95 billion for abusing its dominant position in the advertising technology market.

The American tech giant is alleged to have distorted the market for online ads by favoring its own services to the detriment of competitors, advertisers and online publishers, the EU executive said in a press release.

The search firm’s ownership of various parts of the digital ads ecosystem — including the software that both advertisers and publishers use to buy online ads — creates “inherent conflicts of interest,” according to the Commission.

“Google must now come forward with a serious remedy to address its conflicts of interest, and if it fails to do so, we will not hesitate to impose strong remedies,” said European Commission Executive Vice President Teresa Ribera in a statement.

Google now has until early November — or 60 days — to tell the Commission how it intends to resolve that conflict of interest and to remedy the alleged abuse.

The Commission said it would not rule out a structural divestiture of Google’s adtech assets — but it “first wishes to hear and assess Google’s proposal.”

In 2023, the Commission issued a charge sheet to Google in which it concluded that a mandatory divestment by the internet search behemoth of part of its adtech operations might be the only way to effectively prevent the firm from favoring its own services in the future.

The Commission had originally intended to deliver the fine Monday, before Brussels’ trade czar Maroš Šefčovič intervened to halt the decision amid continued tariff threats from U.S. President Donald Trump.

This article is being updated.