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Event Brief

China carmakers get most subsidies; US-sanctioned refiner benefits

China’s carmakers received most subsidies, while a US-sanctioned oil refiner also benefited.
WHO: China carmakers
WHAT: Subsidies were distributed with most going to China carmakers and some to a US-sanctioned oil refiner.
WHEN: May 14, 2026 at 3:00 AM ET
WHERE: China
WHY: The subsidies were allocated in a way that also benefited a US-sanctioned oil refiner.

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