The European Union could slap Google with a big fine this week

Alphabet-owned Google could face a fine of more than $1 billion from the European Union for allegedly restricting competition through its massive search service.

The EU could hand down the $1.2 billion fine as early as Tuesday for favoring its own comparison shopping service in search results, according to The Wall Street Journal.

Along with the fine, the EU will ask Google to give rival shopping services equal treatment in search results, says the report.

"We continue to engage constructively with the European Commission

and we believe strongly that our innovations in online shopping have been good for shoppers, retailers and competition," said Google in a statement.

A spokesperson for the EU declined comment.

The dispute is among several the EU has generated against Google over potential antitrust practices. In 2016, the EU accused Google of requiring phone makers to install its search engine and web browser on mobile devices, as well as pay carriers or phone makers to make Google search the default option.

Shares of Google parent Alphabet were down nearly 1%.

Follow Brett Molina on Twitter: @brettmolina23.