The US and its allies plan to agree on the Russian oil price cap.

The United States, the European Union, and the G7 countries intend to reach a joint agreement on November 23 to set a maximum price for Russian oil, which could range from $60 to $70 per barrel. Currently, negotiations on the maximum price for Russian oil are ongoing, and the limit may be set as high as $70 per barrel, the WSJ says. It is noted that the ambassadors from 27 EU member states will meet on Wednesday to reach a final agreement on the price. At the same time, the EU must agree on a ceiling price unanimously, and according to preliminary estimates, this may be difficult. Meanwhile, the G7 countries also plan to approve the restrictions synchronously with the European Union.