G7 have agreed to set a fixed price cap on Russian oil (price not yet set) | Forexlive

This is via Reuters (in brief), citing unnamed sources on the plan. An actual price cap on Russian oil will be set later this month, rather than adopting a floating rate.

This is re the plan to set a price cap on sea-borne oil shipments, scheduled to take effect on December 5

• “The Coalition has agreed the price cap will be a fixed price that will be reviewed regularly rather than a discount to an index,” said a coalition source, who was not authorized to speak publicly.