This was reported by Bloomberg, citing a source.

Negotiations among European Union countries on where to set the G7's proposed price cap for Russian oil stalled on Wednesday evening.

It is noted that the negotiations will continue on November 24 in the absence of agreements.

Earlier, Bloomberg reported that the European Union proposed a 45-day transition period after the announcement of a ceiling on Russian oil prices on December 5.

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.