G7 and Australia agree to cap Russian oil price 

This is reported by the US Treasury Department.

The parties also plan to stop importing Russian oil and use Russian oil pipelines on their domestic markets.

"Following agreement by the 27 Member States of the European Union (EU), the members of the G7 (the United States, Canada, France, Germany, Italy, Japan, and United Kingdom) and Australia (collectively, the “Price Cap Coalition”) are joining the EU in adopting a price cap of $60/barrel on seaborne crude oil of Russian Federation origin. The price cap is an important tool to restrict the revenue Russia receives to fund its illegal war in Ukraine, while also maintaining a reliable supply of oil onto global markets. This policy is especially critical to make oil supplies available in low- and middle-income countries hit hard by the effects of Russia’s war," 

The decision will take effect on December 5 or "shortly after that date".  A price ceiling will be set separately for oil products with high and low cost.