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> Fines are paid into the Community budget and therefore help to finance the European Union and reduce the tax burden on individuals.

Another poster linked to a FAQ about the Intel decision, which indicated the money in that case went to the EU central fund.

Limousine tires, gold leaf on a few rooftops, some agricultural subsidies...

Most likely it will be for upkeep of EU bureaucracy.

Probably not compensation since at the end of the statement it's mentioned that affected entities can now due Google for damages.