French Finance Minister Bruno Le Maire said Saturday that the success of G7 efforts to impose a price ceiling on Russian oil would require a commitment from the entire international community.

The G7 economic powers announced Friday that they have agreed to a plan to impose a price ceiling on Russian oil.

Le Maire said in an interview with CNBC that the policy should be implemented as a “global measure against war.”

"The G7, which includes the US, Canada, France, Germany, the UK, Italy and Japan, has yet to decide how the price cap will be implemented, a process that Le Maire admits will be “pretty difficult.”

But it is expected to be ready before early December, when EU sanctions on offshore imports of Russian oil take effect.

“We know that we need the unity of all 27 member states if you want to get the green light for this restriction,” he said, referring to the non-G-7 bloc of EU countries.