Russia is considering the possibility of reducing oil production as one of the measures in response to the decision of Western countries to introduce a price ceiling, Russian President Vladimir Putin told reporters on Friday following a visit to Bishkek, TASS reported.

"We simply will not sell [oil - ed.] to those countries that make such decisions. We will think about it, about the possibility of reducing production, if necessary. We have an agreement with OPEC+ on a known production target. We will think about that additionally, if necessary," Putin said.

According to him, Russia is now considering options to respond. The final version of the response will soon be fixed in the presidential decree.

"We are thinking about this. No decisions have been made yet. Well, specific steps will be set forth in the presidential decree to be issued in the next few days," Putin said.