“We will start reviewing for the first time in mid-January,” RIA Novosti quoted him as saying.

According to the source, revision of the price ceiling for Russian oil is possible every two months.

This procedure will take place simultaneously within the EU and within the framework of negotiations with the G7 countries, he added.

Earlier it became known that the G7 countries, the European Union and Australia agreed on the introduction from December 5 of a price ceiling for Russian oil supplied by sea at $60 per barrel.

As noted by the head of the European Commission Ursula von der Leyen, the price limit will be adjustable.

Russian Deputy Prime Minister Alexander Novak warned that Russia will not supply oil and oil products to countries that impose a ceiling on energy prices.