"The United States and allies are discussing setting a limit on the cost of Russian oil at $40-60," RIA Novosti reported.
Russian Deputy Prime Minister Alexander Novak said earlier that the West's idea of curbing Russian oil prices is a political decision that will provoke an imbalance in the market and an increase in quotations.
According to analysts at the American bank JPMorgan Chase & Co., if the G7 countries introduce a price limit for Russian raw materials, oil could rise in price to $380 per barrel.