“I cannot speak with confidence about the effectiveness of such a measure,” TASS quoted him as saying.

At the same time, he admitted that the restrictions would lower the price of Russian oil and limit Russia's income from energy exports.

Earlier it was reported that Australia and the G7 countries reached an agreement on the ceiling price of Russian oil at $60 per barrel.

The US Treasury noted that Russia will be able to sell oil within the established limit through G7 service providers or conductors outside the coalition, reducing sales.