“The Ministry of Finance, together with the Ministry of Energy, the Ministry of Economic Development and oil companies, will discuss the feasibility of switching to using other quotes in the first quarter of next year,” RIA Novosti quoted the ministry as saying.

The Ministry of Finance emphasized that the priority of their work is the safety and stability of tax and customs revenues.

Earlier, the US Treasury proposed to set the maximum price for Russian oil in the region of $60.

Russian President Vladimir Putin has said that Russia will not act to its own detriment if Western countries impose a price ceiling on Russian energy resources.