EU and UK lower price cap on Russian oil in bid to curb Kremlin's war on Ukraine

The EU and the UK have agreed to lower the price cap on Russian oil in a move to further clamp down on the Kremlin's ability to wage war on Ukraine. The EU has agreed to lower the cap on seaborne oil exports to $47.60 from $60 a barrel as part of what its foreign policy chief, Kaja Kallas, called "one of [the] strongest sanctions packages against Russia to date". The package includes restrictions on Russian pipelines and banks, as well as tech exports to the country. Kallas said: "We are putting more pressure on Russia's military industry, Chinese banks…