During a meeting of the Committee of Permanent Representatives to the EU on Sunday, Maltese representatives expressed their disagreement with the European Commission's proposal to impose a price cap on Russian oil exports at 15% below the market value calculated based on the average price over three months. This was reported by Politico, citing a European diplomat.

Reuters, citing sources, reported that the EU was considering a price of $47 per barrel, based on the average cost of Russian crude over the past 22 weeks (minus 15%). The level would be reviewed every six months, the agency's source said. Slovakia has reportedly agreed to the proposed reduction in the price cap on Russian oil, but is seeking guarantees from the EU regarding future purchases of Russian gas, Reuters writes.

In May, the European Commission promised to include a reduction in the price cap on Russian oil from $60 to $45 per barrel in the 18th package of EU sanctions, but Slovakia and Hungary opposed it, and Estonia announced that it would block the package if the threshold was not lowered. The US has not yet responded as to whether it is prepared to support this measure within the G7.