The European Union (EU) has announced its **18th** round of sanctions against Russia, which includes significant measures to limit the price of Russian oil.

• The new price cap on Russian oil will be set at **$47.6** per barrel, a **15%** reduction from the original **$60** cap.
• Kaja Kallas, the EU High Representative for Foreign Affairs and Security Policy, confirmed the sanctions via social media.
• The sanctions package also targets a Russian-owned oil refinery in India and blacklists over **100** vessels connected to Russia's "shadow fleet."

Jaguar Land Rover (JLR) is set to cut up to 500 management jobs in the UK due to pressure on sales and profits influenced by US trade tariffs on British cars.

• Job cuts represent less than 1.5% of JLR's British workforce.
• Influence of US tariffs noted by car industry expert Professor David Bailey.
• JLR's voluntary redundancy scheme reflects its current and future business needs.